You have not recieved an answer yet. I've not used LUTS anywhere. In my use of Premier Elements for a few years, I've not seen where it can be done. However, there are color correction tools where you can adjust one clip and paste the adjustment to the rest of the clips on the timeline.
Only recently have consumer cameras like the Sony RX100iv and Sony RX10ii had provisions for log profile shooting. It will be interesting how that works into consumer NLE software.
I am also looking for a solution to this. Pro cameras like the Panasonic GH4 have V-Log which require LUT correction but Premiere Pro costs an arm and a leg. I am looking for a less expensive solution. I cannot see any way to utilise a LUT plugin in Premiere Elements. However to normalise audio, Adobe do point us at Premiere Pro, yet Premiere Elements can do it easily, cunning.
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Hi, I am using Magic Bullet and it has LUT Buddy that can be used to install some luts. Don't know if your lut will install, but give it a try. It's FREE. I used a lut for my drone footage.