This PrPro THREAD might give you some clues. This is AfterEffects effect, but I am not sure which one. I do not have PrE 8, and hence no Extreme Sports Theme, but you might view the details of that Theme to see exactly which Effects are applied and where.
What type of camcorder did your video come from and how did you get it into your computer?
The Clip is from a Fuji Finepix XP10 http://www.fujifilm.com/products/digital_cameras/xp/finepix_xp10/specifications/index.html. And it was copied direct from the SD-Card to the pc-harddisk.
But with ohter themes there is no Problem to render the Movie: http://www.youtube.com/watch?v=xsxzQ4ueScE
I just wanted to render the same project with extremesports theme.
Thanks for help
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If you convert the video from that still camera to DV-AVIs before you bring it into Premiere Elements, per the FAQs to the right of this forum, your problems will likely go away.
Thanks Steve for your answer. I could solve the problem by converting the clip into a avi-file with pe8, but I still think it's a bug in pe8 becouse other themes worked without this pre-converting.