According to the Photoshop Elements 9 help guide, I should be able to edit and open GIFs. However, every time I try to, Photoshop either tells me I can only open it as one frame and saving over it will eliminate the animation. Or it simply tells me it can't open it.
We are aware of this issue. It worked properly in Photoshop Elements 8. But, with the upgrade to Photoshop Elements 9, we took the GIF plug-in from Photoshop CS4, which give the behavior you describe. If you happen to have Photoshop Elements 8, you can copy the GIF plug-in out of the File Formats folder into Photoshop Elements 9 (replacing the original one). This will give you the functionality you seek. We are working on having this corrected.
Since Photoshop Elements 6 for mac, still in PSE 10 for mac there is a big fat bug in it – no chance to import animated gifs or change the framedelay in save for web..Adobe never changed anything in the heavy buggy save for web plugin.