Thank you for the reply, MichelBParis.
I have done as suggested. Adobe Application Manager says my "applications are all up-to-date as of 1 minute ago."
Below is a copy of system info.
Elements Organizer 12.0.0.0
Core Version: 12.1 (20140303.12.1.49334)
Language Version: 12.0 (20130903.r.43239)
Important Drivers / Plug-ins / Libraries:
Microsoft DirectX Version: 9.0
Apple QuickTime Version: Not installed
Adobe Reader Version: Not installed
Adobe Acrobat Version: Not installed
Are there any other suggestions as to what could cause version set feature to stop working properly?