Hi,
You will not lose any pictures etc if you reinstall HP MediaSmart Photo - the software only indexes images that are stored elsewhere on your PC, for example in your 'Pictures' folder. You can always back-up any folders containing images if you want.
There's no repair option available, but reinstalling the software should correct any problems - the first time you open HP MediaSmart Photo after reinstallation, it may take a few minutes to index all your images again.
Regards,
DP-K