Windows 8 Pro comes in 32bit OR 64bit... which one do you have?
If you have Win8 Pro 64bit, you need to use the install disc for 64bit, not 32bit
If you do not have a 64bit install disc, you MIGHT be able to install by manually going to the disc and running the install (setup?) program by right clicking and choosing compatibility mode
Since I do not have Win8, I do not know exactly what options are available for compatibility mode
Back at http://forums.adobe.com/community/premiere_elements there is a notice at the top of the page that says that PreEl 11 has been certified for Win8... but the notice does not say anything about version 10