What computer operating system?
The only way that you should be getting regeneration of that particular 12.0 Folder is if you open a Premiere Elements 12 project after you have deleted that 12.0 Folder. And, you say that you do not have any version of Premiere Elements installed? Is that confirmed (if Windows) in Control Panel/Installed Programs? Opening Photoshop Elements 12 or Elements Organizer 12, which you do have, should not be triggering the regeneration of the Premiere Elements 12.0 Folder in the path in discussion.
Have you ever had Premiere Elements 12.0 installed on your computer?
Please consider and supply more information.
I have Windows 7 Home Premium SP1 64-bit. I've never had Premiere Elements installed.
The folder doesn't get regenerated when I open Photoshop Elements. It seems to happen on it's own. I just can't find out which process is creating the folder.
Is there another forum I could try?