Your comment only bolsters the theory that the fisted hand coming from Ann ISN'T HERS. Notice the sun is at the left, therefore, Ann's hand should definitely be lighter than 0bama's grandfather's hand!!! His arm is in deep shadow area relative to direction of sunlight. Why is her 'fist' darker? Not possible unless that hand is a black person's hand, WHICH IT CLEARLY IS.
I also said in another comment, so what? What possible conspiratorial benefit can derive from releasing a photo like that? And if it is manipulated, it is a lousy job. I am still betting on it being shadow and/or it being deliberately doctored to get us chasing our tails.