I have a photo, put in a key frame to start a move (Zoom, pan or tilt), move along the time line, adjust framing, put in another key frame then play. Still image up to key frame is fine, image disappears during move to next key frame, still image is fine after key frame. What gives?
It sounds like you've created a keyframe that takes the photo off screen.
Try making a copy of the clip, resetting the keyframes and start adjusting in smaller steps, then see if you notice the photo flying off screen.
It's a common problem with FCP to 'think' you're making adjustments to a clip that are not really affecting it.