I currently use CS5 but also have a a version of Elements 8. When importing footage from a JVC HM100U in to CS5 it looks fine. When importing footage into elements 8 I get a red screen. The JVC camera also is capable of recording in MOV file format, but those don't come into elements 8 at all. Is JVC using some sort of special codex that elements 8 is not capable of importing. I have elements 8 on a few machines and none of them work. Any ideas?
It's quite possible. Camcorder manufacturers are using a surprising number of codecs to create MP4s, and many of them don't play well with Premiere Elements.
If the camcorder came with its own editing software, that's usually a good indicator of this, and the easiest solution is to use the software that came with the cam to do your editing. Another solution is to convert the file to a more traditional video format.
Meantime, you can increase the odds Premiere Elements will work with your video by making sure you've installed the latest driver for your graphics card from the nVidia or ATI web site and making sure you have the latest version of Quicktime from Apple.com.