I recently upgraded to OSX Lion. Photoshop will load, but will not show image when i try to open file. Layers show up but no image.
For me restoring prefs is simply not a solution, but an additional PITA. In my case that would only work for one image, and then the problem returned. Resetting prefs every time I use Pshop just isn't an option. I have a strange workaround that may be a clue to what the problem is. Open iPhoto> select image> right-click> edit in external editor (which is set for photoshop). Image opens fine (and is visible), and all other images opened are now un-hidden. Awkward, but far superior to resetting prefs.