I have unfinished project in my pc (only narration and music remains to be done). This projekt is opend many times in the past correctly. But now it open very curiosly.
Timeline shows only all text and frozen clips properly, but all video clips are only a reddish backroun with the next text in five language: Medien offline.
I have used also many earlier Premiere Elements previous version before, but this is first time that happens such a surprise.
You are facing following issue:
An offline file is a placeholder for a source file that Premiere Elements cannot currently find on your hard drive. Offline files remember information about the missing source files they represent. If an offline file appears in the Quick view/Expert view timeline, a “Media Offline” message appears in the monitor and in the Quick view/Expert view timeline.
Please follow this article it will help you out: Adobe Premiere Elements Help | Working with offline files