I've been using Elements 7 with great satification for several years now, but recently, the picture thumbnails started to show up as an hourglass icon. I updated to Elements 11 and still had the same problem. I followed some direction I found online for eliminating the catague cache, and it fixed the problem in 11, but not in 7. Till I learn to use 11, I would like to continue to use 7, so how do I fix this problem in Elements 7?
Try Catalog Repair and Optimize. If that doesn't help, check for you catalog's location in Help > System Info and within the catalog folder, rename the file thumbs.5.cache to say thumbs.5.cache.old.
Thanks for the help guys. For anyone else who comes along who is dealing with this in PSE7. Open the organizer. Under files, click on Cataloge. In the new window that appears, in the top right corner, click new. In the new window that appears, create a name for your new Cataloge. Pictures imported into the new catalogue should appear normally. I never did find the cache, but after creating a new cataloge, I just dumped the old one, becasue I don't save anything on photoshop itself.