You can see my article on version 10's new features by going to What's New on this page and then clicking the Details link.
And this page will show you what's new in version 11.
But I don't know why any features would be dimmed out. It's very rare that Adobe removes features from the program. What features are you looking for? They might just be accessible a different way.
Some releases ago you could dump still images from time line. I really miss that (Very useful while doing fancy subtitles or creating a web about same "project". ) . I think that feature is one of those that is "dimmed"( but right now my version 9.0 is not functioning at all so I cannot check it up _ i probably install v 10 later today),
I also believe you could create a title template a few releases ago. It is really annoying not being able to do that (setting all titles by hand and postion them at same coordinates). I do not want to do that in Photoshop.
(I have workéd with Adobe Premiere for about 12 years. Pro at the beginning - last 5-6 years Elements so perhaps my memory have hard to recall what relaser/program I used for what function. )
I'm not sure what you mean by "dump still images from the timeline", but you can certainly save frame grabs from your movie as still photos.
I have currently no working Premiere Elements version - not sure it will be 9.0 or 10.0. In a few days istallation will be ready (64 bits windows is a complication for my IT dept).
Anyhow - I had great problems how to figure out how grab frames in version 9. It definitely wasn´t close to where it was several releases ago (I think I missed the few ones before 9.0). So please tell me how to do it both in v 9.0 and v 10 :-)
You can use either Freeze Frame (by clicking on the Camera icon on the lower right corner of the Monitor panel) or you can use Share/Computer/Still Image.