Yesterday around 200,000 new photos were added to Panoramio's layer inside Google Earth. Now the number of photos from Panoramio in Google Earth is around 1,2 million. With some exceptions, photos up to ID 2,000,000 have been included. This means around 2/3 of all photos uploaded to Panoramio up to this ID have been sent to Google Earth (e.g. photo with URL: http://www.panoramio.com/photo/1892099 has ID: 1,892,099).
If your photo has a higher ID than 2,000,000 you need to wait some weeks until the next update, expected for middle July, that will be larger and I hope will help catch on the delay.
By the way, now the blue compasses that represent photos from Panoramio in Google Earth are substituted for little cameras that are more intuitive.