Yes, that Adobe logo on your clips is just because you're using the trial. Otherwise all your videos would just be one big advertisement, right?!
As for your camcorder, it's not the ideal source for editing in this program, but it's doable, if you don't mind working with it.
First, I'm assuming by HDD that you mean a standard definition hard drive camcorder, not an AVCHD camcorder, which has some other considerations.
For working with hard disc camcorders, the best results will come by NOT capturing with the software that comes with the cam.
Instead, start a project in Premiere Elements (be sure to use the project presets for a hard drive camcorder!) and the use Get Media/Hard Drive Camcorder to download the video files from the camcorder.
Once you begin editing, you'll notice a red line above your clips as you add them to your timeline. This is an indication that these clips will need to be rendered -- and you should do that regularly by pressing the Enter key. (Premiere Elements 8 includes a feature for automatically rendering as you work -- but, on a less than super computer, it can make the rest of the program dog a bit so most people turn it off.)
The rendered files should be virtually as clean as your originals, and you should get excellent results.
Thanks for your reply. Why is my camcorder (Sony Standard Definition Hard Disc Drive) 'not the ideal source of editing in this program'? I've only used Movie Maker before now - I want a better, funkier software but I won't be getting a new camcorder any time soon. Are there other softwares (comparable to PE in terms of functionality) that would be more suitable?
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Hard drive video needs to be rendered as you're working it. (Tape-based video does not.)
But, if you're working with the proper project presets and don't mind rendering regularly (by pressing the Enter key), you should be fine with that cam.