There is no difference. Did you reinstall PSE in 10.8? If so, go to Help>Updates in the editor and update the raw converter again.
If not, if you installed 10.8 over 10.6, go to your username>library>preferences and delete everything pertaining to PSE and the camera raw preferences.
That folder is hidden now. To see it, option-click the Go menu in the Finder and it will appear below the little house for your user account.
What need to be downloaded so I can read raw files in mountain lion. PSE9 was able to read them in Snow Leopard?
I guess all the updates for PSE 9 from this link:
Alternatively, you could use the update features of the Element itself that will download everything for you automatically and al;so install them for you.