The DNG converter is a program that you have to download and install. After it has been installed, you have to run the program and use it to create DNG copies of your raw images. Then, those DNG copies can be opened with older versions of Camera Raw. The DNG files cannot be opened directly in Photoshop. That is why the Camera Raw plug-in is provided. Camera Raw enables you to make adjustments to the raw image data before the image is converted to an RGB image and sent to Photoshop. You say you don't use Camera Raw. But if you are working with raw files or DNG files, and using Photoshop, then using the Camera Raw plug-in is essential.
If you have Lightroom 5.3 or later installed then you should still be able to send your files from Lightroom to Photoshop if you choose the option to render a copy that includes the Lightroom settings. In fact, that is the option you will need to use all the time unless you decide to upgrade your Photoshop. Although you say you don't use Camera Raw, it is an integral part of the image processing when raw files are involved. Photoshop CS5 cannot use a version of Camera Raw that is new enough to accommodate your camera. That is why you will have to use the "render a copy" option. And then in that case, you are right in saying that you don't use Camera Raw. But as I mentioned, you need to have Lightroom 5.3 or newer installed. Go to the Lightroom help menu and check for updates. If you use Lightroom and render a copy, then you won't need to use the DNG converter.
Thanks, Jim. I think what you are saying is that if I want to go directly from my Lightroom 5.6 to Photoshop CS5 using my Olympus OMD E-M1 raw files I need to upgrade to CS6? The latest Raw Converter for CS5 is 6.7.1, which doesn't look like it supports my camera. Is this correct? But then why can I send those same E M-1 raw phoots to PS5 from Aperture with no problem? That doesn't make sense to me.
I don't know the first thing about Aperture, I'm a Windows user. Look, regardless of what version of Photoshop you have, once you have sent an image from Lightroom to Photoshop it has to be saved in a different format. Photoshop by itself cannot edit raw image data and it cannot save raw files. By the time the image is in Photoshop is no longer raw image data. So your best choice is to choose edit in Photoshop in the Lightroom menu, and then choose to edit a copy with Lightroom adjustments. If you don't understand that concept then there isn't much else I can help you with.
If you are sending an image from LR 5.6 to a PS that works with ACR 8.6 (CS6, CC) then LR sends a raw image to PS and PS uses ACR behind the scenes to open the image with the LR settings.
If your PS/ACR is too old compared to LR, which is your situation, you can set up Photoshop.exe as a third-party editor – the settings below where you configure external file handing for PS, and then LR will render a TIF file and send that TIF to PS and PS can open it directly, even if PS is very old.
Presumably this is what Aperture is doing, and you can make LR do the same thing, just configure your secondary (third-party) editor as Photoshop.exe then in LR you can do Edit In Photoshop.exe to select this way, rather than Edit in Photoshop, which assumes PS and LR are both up-to-date.
Or, obviously, you can upgrade to PS-CS6 or pay a subscription for PS-CC and have PS open the raw files without an intermediate TIF on the way into PS.
I Do not get the choice to edit with Lightroom Adjustments with the Olympus photos. I do with photos from my older Nikon camera.
Thank you, ssprengel. I will try that. I may just break down and upgrade to CS6 so everything is compatible!
$10/month for CC sounds inexpensive, but it's $120 a year forever, which is not cheap for me.
What I did, which was easy and I didn't need to spend the money for PS6, was to convert my photos in LR5.6 to DNG. Since I've just begun using Lightroom instead of Aperture, I don't have that many files on it yet..less than 1000. It didn't take too long, and now all the photos go from LR to PS5 without a problem. There is a place in LR in the Library drop-down to "convert to DNG". Easy!
Thanks for everyone's help.