ChasMy
If your program is Photoshop Elements 12, then you have posted in the wrong forum. You have posted in the Adobe Premiere Elements Forum (video editing).
Please start your own new thread on your question in the Adobe Photoshop Elements Forum.
You will get the best answer there on transferring your Elements Organizer 12 catalog that comes with your Photoshop Elements 12 from Windows 7 64 bit to Windows 8.1 64 bit.
The Adobe document on this subject, details the transfer in detail.
http://helpx.adobe.com/photoshop-elements/kb/backup-restore-move-catalog-photoshop.html
ATR