Margo this may be a stupid question and if it is just ignore me LOL.
But did you put the font in your font folder in the windows folder?? I just had a look for elements 5.0 and fonts and it says it uses all the fonts in your system but I imagine they need to be in that folder for elements to see them. I don't use elements 5.0 but that's what you need to do for pscs4 which I use.
Hope you get it working soon