I have installed photoshop elements 10 on my Mac Book Air and the program would not open. I did not write down the error message. I uninstalled the program. I noted in one of the forums the recommdation was to load the trial version and put in the serial number from my disk.
Which component of the program are you trying to open? It's better to bypass the useless welcome screen and launch organizer or editor directly from applications, then make dock icons for them if you want them always accessible. Organizer is self-evident, but this is the editor: