The 70D needs ACR 8.2 for full support.
So far there is not an installer for ACR 8.2 hosted by PSE11, just Photoshop-CS6 and PS-CC. PSE12 should be out any day now, and if recent history is a guide, Adobe does not update Elements at the end of its lifecycle. I suspect this is because it would take further resources for testing that Adobe would rather spend on other tasks.
Besides paying for PSE12 when it is available, your choices for Adobe raw processing are to download and use the DNG Converter 8.2 to make DNG files out of your CR2 files which can be opened in your older ACR plug-in, or perhaps take a little more of a jump and use Lightroom for your raw conversion, still being able to do Edit in Elements with Lightroom Adjustments for any final processing. You could run LR in trial mode for 30 days to decide if you like it.
LR 5,2 and the DNG Converter 8.2 are available from http://www.adobe.com/downloads/updates
Thanks for the reply. I am using DNG Converter 8.2, however, that does not solve one major problem. Organizer 11 will not recognize and index the .CR2 files produced by the 70D. I always keep the original RAW file along with the edited TIFF so I am now on my way to having a bunch or RAW files in various directories in my image directory structure that I cannot view or locate using Organizer. The only solution I can see at the moment is to keep a record of every directory that contains 70D raw files and rescan them when I have a version of ACR that works.
As for Adobe, although I am a satisfied customer, I do no believe that it is ever acceptable to not support the product that is currently shipping. By the way, I have looked at Lightroom and I cannot work without layers so Elements is the only choice for me.
PSE12 works ok as long as it is UPDATED to use the Camera Raw 8.3 plug-in.
If you’re on Windows 7/8 then Help / Updates from the Editor should download the new update.
If you’re on Windows XP or Vista, then there is a manual install procedure outlined, here: