I have the same application installed on my Mac. The software continues the process that monitors the Application folder. When an application is added, you will be prompted to Refresh the list (see the image).
To get the version, it either uses System Profiler or the following command (Run in Terminal):
mdls -name kMDItemVersion <path to file>
For iPhone it should be:
mdls -name kMDItemVersion /Applications/iPhoto.app