There is no guarantee that a project file created in an earlier project can be opened in a later version. And, there is no backward compatibility if you change your mind.
So, if you are going to try this, please do it with a copy of the 12 project.
Assuming that 12 and 14 are on the same computer, right click the copy of the 12 project file and select Open With, followed by Adobe Premiere Elements 14.
If you are involved with Elements Organizer 12 slideshows, be advised that the Elements Organizer 14 slideshow is dramatically different than the 12 one.
We can talk about catalog conversion of the 12 catalog in 14 Elements Organizer and how you will be forced to accept conversion of 12 slideshow format to 14 slideshow format which has its limitations. More on that if applicable to your situation.
Please consider, supply more details, and then we can suggest what next based on the details in your reply.
A.T.Romano Thanks for your prompt reply. I will try your suggestion later and will communicate the result. Many Thanks Ed
We will be watching for your progress.
I am more concerned about taking an Elements Organizer 12/12.1 slideshow into Elements Organizer 14 slideshow feature. The way I know is via conversion of the Elements Organizer 12/12.1 catalog in Elements Organizer 14. That Elements Organizer 12/12.1 has always been very problematic for me, even with creating new catalog and deletion of its setting file, psa.prf. And, in the end, you will have (if it works) the 12 slideshow in 14 format with editing limitations.
There is a high probability that you will be able to open the copy of the 12 Editor project file in 14, no guarantees but high probability.
We will be watching for your results as your schedule permits.
Thank you for considering the troubleshooting suggestions.