Premiere Elements 12 has only one update, that is, 12.1 Update. One of the major actions of this update is to correct a text style Expert workspace issue in 12. There are probably other undefined matters that it remedies; however, I have not seen it to have any impact on size of menu. That remains "it is what it is".
Have you tried to gain some advantage in this matter by adjusting display settings -
Small 100% (default)
And, I have not discovered any gains in this matter in the current version, 13.