I have a very complicated bit of editing and I keep being told to render the timeline for smoother playback, but can I still edit after that has been done? I have Premiere Elements 11.
Also, that message is really just informative, letting you know that for smoothest playback, Rendering will be needed. However, I often cut an entire DVD's worth of Video, and never Render, though if I am doing Effects Keyframing, might Render a segment dozens of times. If you have adequate playback smoothness, then you can get by without Rendering. After you do Render, you can still edit, per normal, as that only affects playback.
This article goes into more detail on Rendering: http://forums.adobe.com/message/3484339#3484339
Good luck, and happy editing,
Many thanks, Hunt. I am finding that editing HD AVCHD video on Elements 11 is requiring new skills not required with my old software, Elements 8. But I am getting there and the results are excellent.