Adobe's official position is that it's untested and unsupported
http://forums.adobe.com/message/4842614
Doesn't mean it won't work though and chances are high that it will.
However, for $79.99 you can upgrade to PSE11 which will definitely work and is tested and supported.
http://www.adobe.com/products/photoshop-elements/buying-guide.displayT ab3.html
