It is not clear what you are doing. Please let me explain what I mean.
This is the Premiere Elements forum that deals with user to user Premiere Elements issues. There is another forum for Photoshop Elements issues. But when you write Photoshop 11, I am wondering if you mean Photoshop Elements 11 or some version of Photoshop such as Photoshop version CS4?
If your program is Photoshop CS4 (probably extended), do you see a File Menu/Export/Render Video opportunity anywhere? Your .pse appears to be a project file. I do not have Photoshop, so....
If this is a Photoshop CS4 matter, I would suggest that you post your question in the Photoshop Forum here
A moderator here might see your thread and move it there.
I did not see John T. Smith's post until after I had posted mine.
Welcome to the forum.
The questions asked above, are very important.
If you do mean Photoshop, or Photoshop Elements (separate, very active and helpful forums), a MOD can easily Move your post to the appropriate forum, for the Adobe product, that you are using.
One thing that caught my attention was mention of a .PSE file. IIRC, that is a "session, or Project" file for Saving a SlideShow in Photoshop Element's Organizer, so that adds to my confusion.
Just let us know exactly which Adobe program you are using, and we will find the best way to help you get assistance and answers.
Thanks, and good luck,