This is how the Slideshow Creator worked in version 11. The Slideshow Creator was overhauled completely in more recent versions of the program and does not do this.
If you'd like your portrait photos and landscape photos to appear completely in a slideshow, you'll need to create your slideshow by dragging your photos to the Premiere Elements timeline rather than using the Slideshow Creator.
Although note that your final slideshow will still be 4:3 or 16:9 -- so, if your photo is a different shape or aspect ratio than the video frame, the photo will appear completely but there will be black behind it to fill out the video frame.
At the moment, I have been creating the slideshow in Organiser 11, selecting Output, and then, in Premier Elements I have imported the Organiser slideshow and dragged that entire file (of say, 10 photos whose properties were defined in Organiser) to the Premier Elements timeline. It all looks fine - intervals between images, fade transitions, etc. In other words, so far so good.
My only complaint is that I don't seem to be able to use Portrait photos in Organiser without their tops being scalped. Is there no way of displaying, in Organiser, landscape and portrait photos on the Organiser timeline without this cropping of Portrait photos? I wondered if the feature in my first screenshot (Slide Show Preferences) where it says 'Crop to Fit Slide' could be relevant to my question?
All of the images in my final Premiere Elements project, including those I have used in Organiser and imported into the Premiership Elements timeline, are 720 x 576px and it is PAL Widescreen. As I say, when I play it all back in Premiere Elements, it looks fine, apart from the decapitated Portrait images imported from Organiser. It's as if I am doing something wrong in Organiser with the Portrait images and getting them to display correctly on the Organiser timeline.
As I said, there is no way to create a portrait rather than landscape slideshow -- or even a portrait rather than landscape slide -- in the Organizer 11 Slideshow Creator.
OK, thanks again.
I will have to do it directly on the Premiere Elements timeline in that case, I suppose.