But always good to know what version you are using and on what computer operating system it is running.
So, generalizing, please review the Premiere Elements 11 Effects Reference with includes a description of the Video Stabilizer.
I have Premiere Elements 11 on both Windows 7 and 8 64 bit. Both work fine.
Please do not hesitate to ask if you have any questions about your Premiere Elements 11 Windows workflow.
A browse through of the Premiere Elements 11 Help PDF is good start. Then you can decide if you need more learning tools.
We look forward to the opportunity to help if needed.
For some more learning resources, this is a partial list, and I highly recommend Steve Grisetti's Basic Training Series, which he did on Muvipix.com (sort of a sister to this forum): http://forums.adobe.com/message/3953827#3953827
Good luck and happy editing,