From the Premiere Elements Information FAQ http://forums.adobe.com/thread/1042180
•You MUST use an account with Administrator Privileges to run Premiere Elements
•(Doing Run as Administrator http://forums.adobe.com/thread/969395 [says Encore and also for "All" versions of Premiere] will sometimes fix "odd" errors)
•What version of Premiere Elements? Include the minor version number (e.g., Premiere Elements 12 with the 12.0.1 update).
•What operating system? This should include specific minor version numbers, like "Mac OSX v10.9.4"---not just "Mac"
•Has this ever worked before? If so, do you recall any changes you made to Premiere Elements, such as adding Plug-ins, brushes, etc.? Did you make any changes to your system, such as updating hardware, printers or drivers; or installing/uninstalling any programs?
•Have you installed any recent program or OS updates? (If not, you should. They fix a lot of problems.)
•What kind(s) of image file(s)? When talking about camera raw files, include the model of camera.
•If you are getting error message(s), what is the full text of the error message(s)?
•What were you doing when the problem occurred?
•What other software are you running?
•Tell us about your computer hardware. How much RAM is installed? How much free space is on your system (C:) drive?
•How many and what speed are your hard drive(s)... ie 5400rpm or 7200rpm or?
And some other questions...
•What are you editing, and does your video have a red line over it BEFORE you do any work?
•Which version of Quicktime do you have installed?
•What is your exact brand/model graphics adapter (ATI or nVidia or ???)
•What is your exact graphics adapter driver version?
•Have you gone to the vendor web site to check for a newer driver?
•For Windows, do NOT rely on Windows Update to have current driver information
•-you need to go direct to the vendor web site and check updates for yourself
•ATI Driver Autodetect http://support.amd.com/en-us/download/auto-detect-tool
•nVidia Driver Downloads http://www.nvidia.com/Download/index.aspx?lang=en-us
On what computer operating system are you running Premiere Elements 12? Have you updated 12 to the 12.1 Update yet? If not, when possible, please do that.
For now I will assume Premiere Elements 12/12.1 is on Windows 7, 8, or 8.1 64 bit. You have the latest version of QuickTime installed and are running the computer and program as Administrator.
Is this a "it worked before but not now" or "it never worked before" problem?
Please uninstall/reinstall the program according to the following scheme:
a. If you can get into the opened project, then deactivate the program using an opened project's Help Menu/Sign Out. If you cannot get into the program to do this, then skip this step.
b. Uninstall the program using the usual Control Panel way.
c. Do a free ccleaner run through (regular cleaner and registry cleaner parts) to get rid of leftovers from incomplete uninstalls and reinstalls.
d. Reinstall the program with the antivirus and firewall(s) disabled.
We will be watching for your follow up, and, based on your reply, we will decide what next if necessary.