What operating are you using?
How fast is your processor, how much RAM do you have and how much free, clean, freshly defragmented space is on your C drive?
What model of camcorder is your video coming from and what format and resolution is it?
"What operating are you using?"
I am using Windows 7 Ultimate 64-bit
"How fast is your processor, how much RAM do you have and how much free, clean, freshly defragmented space is on your C drive?"
Processor: AMD Athlon(tm) 64 X2 Dual Core Processor 5000+ 2.60 GHz
RAM: 8.00 GB
C drive free space: 53.4 GB; last defrag'd on 03/14/2012
"What model of camcorder is your video coming from and what format and resolution is it?"
Camcorder Model: Canon Vixia HF20
Resolution: LP (5Mbps); 1440x1080
Framerate: 29 frames/second
Hm-m, that is a Media Foundation Direct Show module.
PrE (and PrPro) has not used Direct Show for some time now.
Do you have FFDShow installed, maybe as part of K-Lite, or some other CODEC pack?
If so, that could well be the issue, as FFDShow has killed many versions of PrE and PrPro. I would check to see if it loads at bootup, with MSCONFIG.
Also, see this ARTICLE on PrE Crashing or Hanging. Down in the troubleshooting section, there is a link to Finding Clues. I would read that link, and follow the steps outlined in it.
It's possible you're a bit tight on hard drive space for editing AVCHD.
Also, I'm assuming you've got the latest version of Quicktime and that you've manually gone to Windows Update to ensure you have even the non-critical updates.
But try starting a new project in Premiere Elements. Make sure it's set up for Full AVCHD 1920x1080 and either 5.1 audio or stereo (depending on how you've got it set up in your camcorder).
Plug your camcorder into your computer and, rather than using the Organizer, use Premiere Elements' Get Media/From Flip AVCHD or Hard Disk Camera to import the video from the camcorder to your computer. (In fact, dont' even open the Organizer.)
If you're still getting crashes, try running Advanced System Care Free's Deep Care tune-up to clear the junk files away.
I don't think, your free space should be an issue or anything to do with THIS crash.
When you say, up one folder, or Look in feature, you are talking about media on your local drive or some external drive?
If it is only happening with external drive/camera, try copying you media locally and then import.
If it is happening everytime with media stored in local hard drive also, then, I think you need to contact Adobe support.
Media Foundation and DirectShow are two totally different rendering frameworks.