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Why shouldn't it? I've got over 15 Adobe programs (old and new) on one machine. And they run a smooth as a babies bottom. ;-)
Yes -- but not in the same way that Photo Elements 7 will work with Premiere Elements 7.
In other words, yes, they'll work on the same machine and, yes, when you select the option to edit a photo in Premiere Elements, Photo Elements will launch.
But, there are some features -- like sending a slideshow from Photo Elements to Premiere Elements -- that only work if both programs are of the same generation.
That's what I mean... Thanks!
Sometimes there is a workaround for intergrated programs not being of the same generation.