I don't know where iPhoto is storing your photos, but if you use the Photo Importer in Premiere Elements or the Elements Organizer, you can designate where the photo files are saved.
You can also use the Elements Organizer to move any or all of your catalog from one location to another.
So I'm not quite sure how iPhoto is figuring into your workflow or if you have created an Organizer catalog yet -- but there are certainly a number of ways to relocate your files.
Particularly if you use Finder and the Organizer rather than iPhoto to do so.
I'm Not looking for the location of my iPhoto Library photos im looking for where they have gone once I have imported FROM iPhoto to Elements Organiser you see.
The Organizer does not move your media files (unless you tell it to). It merely catalogs their locations.