What video card/graphics card does your computer use? If it is NVIDIA Ge Force and its driver version is up to date that is your issue which may not be resolvable.
There is a serious problem specific to Premiere Elements 10 NVIDIA GeForce which forces the use of a NVIDIA driver version May 2013, not the up to date driver version.
See the following for details on that.
If it is as I suspect, a working older driver may have been automatically updated with latest version. Your hope for recovery is finding the older previously working driver still on your computer and replacing the new driver with the old one.
If your computer does not use a NVIDIA GeForce card, then we will go after other troubleshooting paths.
Please consider, and supply more details.
I think you hit it. I'm using an NVIDIA adapter GTX 465 and I dimly recall accepting a Windows recommended update on the driver a few months back (hoping it might help some graphics problems I was experiencing with my CAD tools). It didn't help my known problems, but guess I didn't notice right away what else it might have "broken".
Guess I'll have to try the driver roll-back approach. Do you know if Adobe has fixed this particular issue with later versions of PE?
Thanks for the follow up and considering the comments about the Premiere Elements 10 NVIDIA GeForce situation that continues to exist.
This issue has presented as one targeted specific at Premiere Elements 10 NVIDIA GeForce. Another version in your computer would not be expected to have this problem.
If going to another version in your computer to get rid of this problem is a consideration, then please first download and install the free 30 days tryout of Premiere Elements 14 (current version) from Adobe to determine its compatibility with your computer environment and project goals. In going from 10 to 14, you do lose DV and HDV capture firewire and major changes in Edit workspace and export layouts. So, lots to consider if you cannot recover the older driver. The last version that has the DV and HDV capture firewire opportunity is 12/12.1. Starting with Premiere Elements 11, you go to different workspace layout. And, going from 13/13.1 to 14, you go to a drastic change in sharing area layout.
Best wishes. Please let us know if you need supplemental information on this.
Just a quick FYI follow-up. I was able to roll back my NVIDIA driver to the pre-upgrade version. PE10 works again! Just hope that doesn't break something else on my system.
For the archives: NVIDIA GeForce GTX 465 model adapter.
Diver update 2/5/15 v 188.8.131.5252 - Busted!
Old Driver 1/18/13 v 184.108.40.2066 - Repaired!
Sorry to hear that the newest versions of PE do not support DV/HDV capture and Firewire. That's the reason I purchased Adobe to begin with to get compatibility with my HD camcorder at the time. Since I have no desire to throw away all my equipment and start over, guess I'll have no problem resisting that "upgrade" for a while!
Good news for Premiere Elements 10. Well done finding that older driver.
I am not sure if good news for any games or other applications on the same computer.
Best wishes for your Premiere Elements projects. Sounding good.