I have reloaded both and now "Merge to Panorama in Photoshop" along with "Open as Smart Object in Photoshop", "Merge to HDR in Photoshop" and "Open as Layers in Photoshop" are all greyed out. "Edit in Other Application" and "Edit in Photoshop CS3" are okay and do work okay. Photoshop still does panoramas ok on it's own, just doesn't work in conjunction with LR anymore. I have reloaded LR5 and CS3 a second time, installed updates -- no change. Any help would be appreciated.
Could you please let me know if you have uninstalled and reinstalled both the Applications.
Also are you working on Original Images or Smart Objects ?
Yes, I unistalled and reinstalled both applications, and I am working with Original images. I probably did close to two dozen panoramas before the crash.