In the next update for premiere elements can their be a preset for fringing/chromatic aberration effect that has adjustable settings?! Cause I've noticed final cut pro has this (prisim blur), and just makes it easier than having to duplicate the video three times! And with this update people could still have this effect the "old fashioned way" with duplicated video but this is something different I think would be easier.
Here's somethings you'd be able to do in the preset:
1. adjust the distance of the rgb layers
2. Change which way the chromatic aberration goes (horizontal, vertical, diagonal, etc.)
And the preset wouldn't be a preset that would just duplicate your video on the timeline.
I doubt that.
Elements is not FCP
After Effects has the ability to add or remove CA.
Your best option is to get better optics.
I know it's no Final Cut, but some of the free editing software have this.