Please do not post twice http://forums.adobe.com/thread/1355539
Do you mean PREMIERE Elements or PHOTOSHOP Elements?
If Photoshop Elements, you should have posted in Photoshop Elements Forum http://forums.adobe.com/community/photoshop_elements
I suspect that you are a Photoshop Elements 11 users and you should be posting your question in the Adobe Photoshop Elements Forum.
But since Camera Raw does have some implifications in Premiere Elements 11, I will attempt to answer your question.
You need a version of Camera Raw that supports your Fujifilm X-M1 camera. Camera Raw 8.2 and what is to follow supports this camera, not versions before.
Now the next part of the equation is does Premiere Elements 11 or Photoshop Elements 11 support Camera Raw 8.2?
Photoshop Elements 11 and Camera Raw 7.4 are OK.
But I am not sure if it will support Camera Raw 8.2. If you go to your Photoshop Elements 11 Full Editor Help Menu/Update, what Camera Raw Plugin is it offering to update (if any)? Look in the Help Menu under About Plug-ins Camera Raw to see what version of Camera Raw you have installed and if it is the latest version offered by way of the Help Menu/Updates.
Depending on the results, you may have to go to Photoshop Elements 12 to be Camera Raw 8.2.
The following thread "may" help you to get Camera Raw 8.2 into your Photoshop Elements 11.
Please review and let us know the outcome.