"Unable to continue because of a hardware or system error"

I suddenly started receiving this message when opening Elements 2. The message continues - "Sorry, but this error is unrecoverable." I've uninstalled and reinstalled, to no avail. I installed Elements (1) which works perfectly (except for an Intellihance program (PhotoFrame) which only works with "2." (Intellihance Pro works with "1"). I have 50 free gigs, 512 ram. Using XP. I have many other imaging programs, and they all work. Any suggestions???

Have you recently installed/uninstalled any peripherals or updated drivers?

Beth - Not a thing. Strangely, Elements 1 plus a host of other programs work. There has been no other problem.
Thanks for answering.

Marty