He is still welcome to use Elements 4 for editing. If he saved any jpg files to Photoshop.com for storage, then they would migrate to Revel before it closes. He can upload to Revel from his hard drive after editing and saving a photo from Elements. His photos will not go automatically from Elements to Revel.
These FAQ's might be of use to you:
Elements organizer/Revel Help:
Getting Started with Revel: