Hi, thank for posting this!
Do you know how to fix this issue on a Mac running OS X 10.7.5 Lion?
I ran into a similar issue on Premiere Elements 11: On program launch, the system hung on "Quicktimehost.pm". After some troubleshooting with no success, I:
1) Uninstalled Quicktime version 7.7.5
2) Installed Quickitme version 7.6
3) rebooted my machine
4) SUCCESS-> launched Premiere Elements 11 without issue
Hope this helps a few others!
How do you get 7.6?