Just purchased Elements 8. Apologize upfront for not being computer savvy. That said, it appears the Premiere recognizes the MP4 format, yet I have some high def MP4 clips on Sony's XD CAM EX which are only showing up as bright orange squares after I've brought them in to Premiere Elements 8 through "Get Media". I've toyed around and converted them into other formats, such as .avi, but lose the high def in the process. Any help would be greatly appreciated.
As Neale indicates, video from that camcorder is not in a format Premiere Elements can use.
Converting it to a more "traditional' format is necessary in order for you to work with it in Premiere Elements.