An Premiere Elements 11 user with the ID agibert seems to have come up with one answer to the Premiere Elements 11 issue
The core of the problem traced to the SmartSound feature, and resolution was found reinstalling SmartSound.
I assume it was done using
Some may have gone as far to update the associated Sonicfire Pro
If that does not resolve the problem for you, then I would suggest
uninstall, free cleaner run through (regular and registry cleaner parts), reinstall with antivirus and firewall(s) disabled.
Please let us know the outcome.
John T. Smith
Looks like we are on the same wavelength as per my post numbered 1.
Although the No Disk message has been linked to the SmartSound feature in versions earlier than 12, it can present
for other reasons as well. So, it will be interesting to learn of the outcome from gregory james.
Grin... we were both writing an answer and your "add reply" beat mine by a few seconds... hopefully, one of our links fixes the problem