"This type of file is not supported, or the required codec is not installed."
Any suggestions would be appreaciated.
They have a website with support and a forum. https://www.videocopilot.net/products/action2/
Looks like cool stuff.
They list compatability with Premier Elements. Perhaps if you post a request there, you will find someone that has been down the road before you with the combination of the two products. They may also need to know if an adjustment is necessary for PrE11.
As John says, we need to know specs of that file, which you can see if you open it in G Spot ot Media Info. The challenge with MOV files is that they often don't include these specs in a format Premiere Elements can read, the way AVIs and other PC files do.