You're asking the Organizer to read PhotoFunStudio's metadata?
What happens if you use the Premiere Elements Media Downloader to retrieve the video instead?
Also, do ensure that you've selected the correct project preset for your Premiere Elements project. AVCHD Lite is a sort of marginally supported format in Premiere Elements -- so you'll want to ensure that you've chosen the 1280x720 hard drive project preset and not an AVCHD preset if you hope to successfully work with this video.
No, I'm not asking it to read PhotoFunStudio's metadata. I am hoping to never use PhotoFunStudio (PFS) again and instead work entirely within Premiere Elements (PE).
The problem I described is what happens if I work entirely within PE. PE seems to only know time stamps to within one minute of granularity. Possibly it is using Windows file time stamps instead of EXIF-like metadata. I have searched the web for about an hour and can't figure out whether there's any metadata in the m2ts file format.
I can solve the problem by importing in PFS which renames the files (00001.mts taken 4/4/10 at 14:56:18 becomes 20100404_145618.m2ts), then working in PE. I just don't like this solution because I don't want to be tied to PFS.
As far as I know, the Organizer will always use the date the video was saved to the hard drive, not the date on the file's metadata. Sorry.