Bascoe
Premiere Elements 8 is not removed when 12 is loaded.
Premiere Elements 12 and 8 are standalone projects. You can have both on your computer, but just use one at a time.
There is no guarantee that a Premiere Elements 8.0/8.0.1 project will open in Premiere Elements 12/12.1. Probably will, but....one example,
Version 8.0/8.0.1 supports .tga files (used often the 8.0/8.0.1 content); whereas Premiere Elements 12/12.1 does not support .tga.
Please explore the concept of catalog conversion, opening the Elements Organizer 8 catalog in Elements Organizer 12.
http://helpx.adobe.com/photoshop-elements/kb/common-catalog-issues-upgrade-elements.html
Any questions on this, please do not hesitate to ask.
Thanks.
ATR