Good news and bad news. Premier Elements didn't really officially support 1080p60 until version 11. Your camera is too new for your 4 year old software.
I have upgraded because I have 1080p60 cameras. But, when I had versions 9 and 10, I found that if I set up a project for 720p60 it worked OK. 1080p60 still works a lot better in version 11.
The FZ200 is an amazing camera for video!
I think 1080p support was added in version 11
Try a different option when recording and see if a different video option works (your camera should allow you to select something other than 1080p)
A saved link... may not be for your exact camera, but free to read
PreElements 10 IF 24-or-30 FPS http://forums.adobe.com/thread/1066948 and last message says to look for next version for better support
Premiere Elements 8.0/8.0.1 is a 32 bit application running in the 32 bit compatibility mode of the 64 bit system and as such has the limitations of 32 bit, namely, maximum supported installed RAM = 4.0 GB of which typically 3 GB or less are available. Many found that the program does not have enough resources for serious AVCHD editing for medium to large size projects. Some resorted to converting the footage to the less resource demanding MPEG2 1920 x 1080i while others experimented with a proxy method which used to be in FAQ.
Are you shooting 1080p60 with your Panasonic DMC-FZ200. How do you intend to export the footage?
The advanages of upgrading to version 11 for your situation include gaining a 64 bit application running in a 64 bit system of Windows 7 or 8 which will make available more of the computer resources. And, version 11 is the first to offer the 1080p60 and 1080p50 project preset. You might want to look at the free 30 day tryout of the program from Adobe to determine if it is something that would work to your advantage.
If you wish to pursue making due with what you have, please let us know and more information on working with AVCHD in Premiere Elements 8.0/8.0.1 will be discussed in depth, including workarounds.
Huh... one up?
3 of us replied with "basically" the same information (for some odd reason mine has a time stamp before your message, but is in the list after you... oh well, crazy Jive software) but each of us also had something different to say about WHY a later version was needed
I don't see any "one up" here, just different information to help tell the OP why things are not working
Actually, it is not really software that is difficult, but video in general. There are so very many variables, that it can take a bit of research to fill in the blanks. The advertising for editing software, and for cameras make it seem simple, but with all those variables, it really is not.
I am about to call it a day after midnight where I am. But, since I did not see your new thread appear yet, I will leave you these questions
1. Good news is that you now have a 64 bit application running in a 64 bit system and taking advantage of the 64 bit system resources. How much available RAM and free hard drive space do you have on this other Windows 7 64 bit?
2. Is the audio card driver up to date? Is the audio problem in Premiere Elements 11 specific to this particular video footage? Have you checked the ASIO settings?
3. What are the properties of your source media? Please confirm 1080p60, AVCHD video compression, what audio compression, what file extension (looks like .mts from one of your earlier posts in this thread)? After you Add Media/Project Assets and drag your file (assumed 1080p60) to the Timeline/Expert view, what do the project settings show up as in Edit Menu/Project Settubgs?
4. If you look at the audio in Audio 1, do you see a wave form? Did you check all the volume settings.
Please excuse all the questions, especially since you have been a Premiere Elements 8.0/8.0.1 user, but I did not want to take anything for granted.
Looking forward to your observations in the light of day.