In this work we use a technique of spectroscopy adapted for measuring the amplitude and phase of photon echo signals [7] produced by diffraction of a fs pulse on a spectral hologram. We also improved the technique in terms of spectral resolution in order to measure photon echoes delayed by a few tens of picoseconds. Our study is focused on measuring the coherence time of the sample using a photon echo experiment in the photochemically accumulated regime and on demonstrating the pulse-shaping and time-reversal potentialities of our photo-sensitive material. Spectral holograms are formed through persistent spectral hole burning using a sequence of 2 pump pulses separated by a time delay, in a collinear geometry. The sample is a free base naphtalocyanine embedded in polyvinylbutyral (H2NPc/PVB). The absorption peaks at 783 nm and is 20 nm large (FWHM). Our laser source is a 15-fs, 100MHz, Ti:S oscillator