You need to remove third party plugin and try launching. You should find it in plugins folder either here C:\Program Files (x86)\Adobe\Photoshop Elements 10\Plug-Ins or C:\Program Files (x86)\Adobe\Photoshop Elements 10\Locales\en_US\Plug-Ins
Else try skipping the loading of thirdparty plugins like below:
1. Close Elements.
2. Launch the Photoshop Elements Welcome Screen and hold down ctrl/cmd + shift as you click Editor/Edit.
3. Continue to hold the keys until you see a message to skip loading of 3rd party plugins..Click yes and check.