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Unfortunately, you cannot load a PrE 8 Project (the PREL file), into PrE 7. In most cases, you can go the other direction, but can encounter problems with that.
To remove the watermark, you will need to purchase PrE 8, and then follow the steps in this FAQ Entry.
Sorry for the bad news,
So what about if I saved it as a project file? I think some of the laptops have Premiere 8 so could I do it that way?
If you did a Save_As, or Save_As_a_Copy, copied all of your Assets and had a laptop with PrE 8, then things should work fine. Remember - the Asset files are NOT in the Project file. This ARTICLE will give you the tips.
I migrate Projects between computers (usually PrPro, but it's exactly the same). I use external FW-800 drives, and set each Project up in its own folder and ALL Assets are Copied to that folder structure.
The problem that one will likely encounter is that with an external HDD, the drive letter will probably change, machine to machine. I set this to be the same for each computer's OS, so that my Z:\ is always my Z:\ drive on each computer, where I plug it in. This might be something that you will not have access to, with lab machines, but PrE makes it easy to deal with. When you plug in the external HDD, and then open your Project, the Path to the Assets will be different, so PrE will not be able to find them on its own. It will ask, "where is file _____?" and you can then use Find to navigate to the new Path for those Assets files. Once you locate the first one in that folder, it will then relink to all used Assets in that folder. If you have the Assets in many different folders, you will need to repeat for each folder.
Be very sure to read that FAQ article on removing the watermark. That will need to be followed.
It looks like I'm not gonna be able to use the laptop so I'm gonna hope I can get it across etc