Please try couple of probable solutions as mentioned below:
Reset all elements preferences. Go to
Win - "C:\Users\[YOUR USERNAME]\AppData\Roaming\Adobe\Photoshop Elements\11.0\Editor"
Mac - "~Library/Preferences/Adobe Photoshop Elements 11 Settings"
Delete everything present in this folder and then realaunch PSE.
Solution 2: In case any network printer is attached try to launch without network or printer uninstall or make different printer as default.
Solution 3: Try launching with anti-virus off or removing PSE from conflicting list.
Solution 4: Try launching PSE Editor directly from the .exe present in folder "C:\Program Files (x86)\Adobe\Photoshop Elements 11\".