Yes, you made a mess by migrating things. Long story short: "Reinitilaize" the Mac by reinstalling OSX. Trying to fix this manually will cost much more time.
Boyd5296 you can try removing Photoshop Elements using the uninstaller located in Applications/Utilities/Adobe Installers/. Then try the install again. If you still continue to face dififculties then please follow Mylenium's suggestion of formating, reinstalling Mac OS, using the Migration assistant to only move your document and settings, and then reinstall Photoshop Elements.
Thanks for that, Mylenium. I didn't think I had made a mess! Everything else migrated very nicely, thanks.......but NOT Photoshop.
Sadly, this is the last in a series of Adobe-related mis-adventures. And why should I have to reinstall OSX on a brand new iMac?
I'm afraid it's goodbye Elements, hello Aperture.
Boyd5296 the reason you would want to reinstall is because the migration was not successful. If the uninstaller doesn't work it is much more efficient to go through the migration assistant, only migrating documents and settings, and then reinstalling. I have seen users spend hours and even days trying to recover from migrating applications from one computer to another. Even if you do decide to move to Aperture please keep this advice in mind when you run into additional difficulties.