I doubt anyone will need to know this, but this is what I found:
If you happen to have Red Giant's Magic Bullet Looks module that you use in Premiere Pro, you can also use it in Premiere Elements using a workaround.
First you need to have Premiere Pro (trial will work) installed so that when Looks is installed, the installation files are installed for Premiere.
When using Looks in Premiere Elements, you'll find Looks under RG Magic Bullet in the FX panel. Now this is the workaround: The first time you open the Looks UI, click Cancel. You'll go back to the Premiere Elements UI, but will automatically jump back into the Looks UI. Once in the Looks UI the second time, any work you do will be saved. If you do work the first time in the Looks UI, nothing will be saved, and you run the risk of having Premiere Elements crash. You'll surely will forget this.
So when you want to make changes in Looks, click the Cancel button in Looks and wait to be taken back to Premiere Elements UI and taken automatically back into Looks again. Make changes. Save.
When you exit Premiere Elements, Adobe Premiere Elements may still linger on as a task and have a lot of memory used up, in which case you have to use the Task Manager to End Task, or End Process Tree (on the Details tab of the Task Manager).