If I have a green card and I had to travel out of the country on Nov 2, 2007. Only to return 1 Nov 2008. My question is, is it late by immigration law?

Maybe... be prepared as immigration officers may give you a hard time on your return trip based on whether you have an intention to live in US permanently. Normally it is recommended not to leave US longer than 6 months in a year. In your case, this is very risky.

From what I understand permanent residents can only be out of the United States for 6mos, otherwise your residence card can be taken away for not letting them know you were going to be out longer than that. You should consult an attorney before you come back.