these lines in the traceback:
/home/peo/local/lib/python/IPython/frontend/qt/console/qtconsoleapp.py
indicate you have an probably outdated non packaged installation interfering
with the package.
If you remove that it should work fine.
** Changed in: ipython (Ubuntu)
Status: New => Invalid
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https://bugs.launchpad.net/bugs/948428
Title:
`ipython qtconsole` fails to start; says IPython.zmq requires pyzmq >=
2.1.4, but you have 2.1.11
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