After Effects is professional-level software for creating 2D and 3D effects. It's the product often used to create those amazing special effects for animated titles during news shows and for showing stats during football games.
It's also pretty pricey. But, if you're really looking to do amazing special effects, it is THE tool.
Thanks for the quick answer Steve. I do not have CS5 just the "normal" Premiere Elements 8
- can I still jsut add "after effects" to this software or do i need to have the professional version of the software
AE (AfterEffects) is included in several of the CS5 suites, but is also a stand-alone program. With the suite version, one gets ADL (Adobe Dynamic Link), which allows one to move easily and seamlessly between PrPro and AE. One can begin a Project in PrPro, and then link to an AE Comp (that program's name for a Project), complete compositing work in AE, then link it back to PrPro, so that Rendering out of AE (that program's name for Export/Share).
However, with PrE, one would Export/Share, say as a DV-AVI for an SD Project, then Import that AVI into AE for the compositing. From AE, one would then Render back to DV-AVI, or other format, to finish up. The one thing missing is the ADL, so there will be intermediate files involved. For this, I would explore using one of the Lossless CODEC's, like Lagarith Lossless, which will work with SD, or HD material, and one does not loose quality in the intermediate files.
As Steve says, AE is a very powerful program. It is the gold-standard for compositing, and allows infinite control, when compositing. It has one of the best Keying tools, and allows for automation in many steps. It allows for scripting via its Expressions.
The only downisdes are: it IS expensive, it will not be able to use ADL between PrE and there is a bit of a learning curve, due the the wonderful power. Many things will be similar to PrE, like Keyframing, with some little differences.
Good luck, and hope that this helps,