Though conversations with Adobe Support and information found in other posts, the solution to this problem was the upgrade of the QuickTime Player to the most recent version (7.6). I uninstalled the older version and downloaded / installed current version and the problem was solved. A document in the Knowledge Base (KB403276) references the same problem for Premier Elements 4.0. Thanks to all who helped.
Pre. Elem. 7 crashes when choosing...
It's such a good solution, we've made it a permanent part of our FAQs, Bill!
http://www.adobeforums.com/webx/.3c057647/2
Glad the solution works for you.
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