I have a bit of a problem right now, hopefully someone can help...
In attempting to fix the blown out highlights in the Burning Homestead scene, I used Photoshop Elements to experiment with the histograms. By using the "darken highlights" tool in the highlights/shadows toolbox, I was able to obtain a very promising result with both underexposed and overexposed parts of the film.
Here's the problem. The shadows/highlights tool in Premiere Elements 11 doesn't work for me, because it seems to be unable to darken highlights. Does anyone know of a plugin for Premiere that will do this, or some sort of workaround?
JEDIT: Nevermind, it seems to work, and the results are quite good! The tool is not particularly intuitive though.