We can't know. You have not provided any details about your project, your footage, your settings, your system. Either way. Ask in the PRE forum. This has nothing to do with Creative Cloud.
On what computer operating system is your Premiere Elements 12 running? Have you updated 12 to 12.1 Update using an opened project's Help Menu/Update? If not, please do so.
By commentary track, I am assuming that you mean Narration Track.
When did your problems start...you had audio on Soundtrack and/or numbered audio tracks, added narration using the program's Narration Tool, and then lost sound from the Soundtrack and numbered audio tracks. If that is part of your situation, then that see the following for solutions....http://www.atr935.blogspot.com/2014/06/pe12-audio-losses-after-narration.html
If you have been working in the Expert workspace of the program, please look at the problem in the Quick workspace. Also, if you start a new problem does the problem exist?