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It is a AVCHD camcorder capturing to flash memory... PE7 should be able to capture from the camcorder but if not you can add the files when downloaded to your hard drive. This is what I tend to do with my Sony, I use the software that came with the camcorder to download the files and Organize them. Then I use Add Media in PE7 to import them.
I'm thinking I need to just get the demo and give it a try. I worry about fully understanding the directory structure for the current Panasonic HD writer program I use to capture. I prefer to capture directly to PE but, since I upgraded my camcorder PE6 won't work. Thanks for the response and I hope to find out more during or after the holidays...
Importing from AVCHD camera is very easy. You just need to connect youor camera to the computer. Once the camera is detected by your computer and is ready to use, you can try meda downloader from Premiere Elements app and import the footages from camera directly into your project.