It is a tricky situation trying to install Premiere Elements 3.0 on Windows 7 64 bit. Often you meet with a lot of incompatibility messages along the way.
After you thought you had installed the program, did you try install the 3.0.2 Update to give yourself a fighting chance?
What was your setup before...installation of Premiere Elements 3.0/3.0.2 on the Windows XP Mode of the Windows 7 64 bit system or other?
The program seemingly installs, but is not present in the program listing
What is your evidence that the program actually ever installed?
Do you ever get to see the Premiere Elements 3.0/3.0.2 Timeline workspace or Sceneline workspace?
We will be watching for further details.