this is not necessary a redistributable packages error, best name for this error may be "cannot load dll correctly"
for any reason - function not found or version is too old or something like that
this is my procedure how to find wrong dll
1.) download Process Monitor by Sysinternals (now hosted on Microsoft)
2.) start Process Monitor (start capture if not started) and try start any Adobe product (if one fail on this error everyone fails)
Adobe product throw error 0xc000007b, click ok and go back to Process Monitor
3.) stop capture with 3rd icon (magnifying glass)
4.) find Adobe product (in my example Photoshop) and choose filter like you see on picture
this delete any other process lines from list
5.) now you can see how Adobe product load Image Files (dll)
normaly it looks like u can see on picture
you can see Opperation = Load Image and in details return of Image Base and address
6.) if you go to end where process exit himself, you can see this
on this picture you can see Photoshop is trying load "msvcr100.dll" but no successfull Load Image operation or Image Base address
Process try find correct dll on many different places, but no luck, after that Process Exit call and close himself
and so this dll is wrong or cannot be loaded correctly
7.) download another version from http://www.dll-files.com/ and find which work and which dont
this is example when i try rewrite glu32.dll with older one and get same error, but in Process Monitor is clearly see what happened
again no successful Image Load operation and no Image Base address = same 0xc000007b error
I hope I helped
The likely and specific resolution to this Premiere Elements issue appears to be in the 2 year old thread pointed to by John.
You have already posted today in that 2 year old thread with what worked for you with your Photoshop CS6 generalized model for hunting dlls. Please see my note to you there.