None of these worked for me. I have had the same problem, and tried all the posted fixes to no avail. After lots of exchanges with Adobe, they finally suggested something that worked for me. Download and install the trial version of Elements 8. Panorama worked OK in this. I then tried it in Elements 7, and it worked OK as well. I then uninstalled Elements 8 trial version, tried Panorama in Elements 7, and it still worked. I have used it successfully to merge 6 large JPEGS. Still doesn't get to the root of the problem, but is another fix to try. It worked for me and I now have a fully functioning program.
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