Are you talking about Photoshop CS5 or the OLD old Photoshop 5.0?
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That version of Photoshop does not have Bridge, which is what I use to organize Photos on my computer (actually I use other tools but Bridge CS4 can be used). The problem I gather is that you cannot see the image preview of the photos as icons? Or is it another type of organizational problem? I have Adobe CS1 installed on a Windows Vista 32-bit laptop and it is only partially compatible. For example, Adobe Acrobat 6 which comes with CS1 is not fully supported, but Photoshop and the other apps work on it. If it is a 64-bit version of Windows 7 you may encounter other compatibility issues.
Thanks for all of your help. I found PS 5.0 on sale a number of years ago for about half price so I bought it with intentions of learning all of its features and to use it but all I have been doing is tag the photos and create collections and hardly any editing at all. I think I can do the same with some free programs out there plus I still have it installed on my desktop which is running Vista and without problems. I wanted to move everything to my laptop since it is much faster but as often as I use it I can still use the desktop.
FYI. AFter loading PS Elements 5.0 on to my laptop running Windows 7 I am able to get to each photo to edit it if I choose the Edit feature. When I choose the Organize feature the circle (hourglass) just spins for hours until I shut the program down. That is where I am having the compatibility issue.