I am trying to edit a Theora video in Premiere Elements 10. I installed the Xiph OpenCodecs package which allowed me to view the video in WMP, but it still wouldn't import into PRE. I then tried installing QuickTime and the XiphQT package, but still no joy. However, QT wouldn't play the video so maybe this didn't work. I notice that the Xiph website has not been updated since 2009, so maybe these are out of date.
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Currently it doesn't appear possible to directly import Ogg Theora video into Premiere Elements 10, however I did manage to convert the video to DNxHD/VC-3 so that PRE would handle it nicely (previous conversions had behaved very badly)