Hi,
I had the same problem but I have a Dell Inspiron 1521 running vista home premium 32bit with Photoshop elements 6 installed on it. Up until a day ago it was running just fine. But this morning when I tried to open elements I got the message "Licensing for this product . . . "
So I called adobe tech support and spoke with this great tech guy. He walked me through the fix. My elements is running fine once again. Here is what he had me do:
Open by clicking on Start - Computer - C Drive -Program Files - Common Files - Adobe - Adobe PCD - cache
Right click on cache and copy
open desktop and right click on desktop and click on paste.
Cache will appear on desktop and disappear from Adobe PCD folder.
Start adobe photoshop elements and you will get the registration screen. Enter your serial number and then the program opens and your are back in business!
Sue