In Elements 8 Raw Editor. Above the histogram there are two triangles. One represenst shadow clipping the other represents that the highlights are blown out. My question is, what does the colors represent. The triangel will turn white, red, blue, black. Does black mean that your photo is properly exposed?
I don't have Elements, but if Camera Raw in PSE displays the same for clipping on its histogram as is does in Photoshop: A black triangle indicates no clipping, white indicates clipping in all channels, and a colored triangle indicates clipping in one or two color channels but not all three.
The absence of clipping does not necessarily indicate that a photo is properly exposed. The pixels values may be compressed towards the middle, away from the blackest black or whitest white. For these, the Exposure and Black adjustment sliders often can improve the image. Or some clipping may be desired. Depends on the image.