My PSE 11 goes into an "update" mode when I start it up and also when I open the file after having minimized it. It takes about an hour to complete the update each time and in the meantime time I can't do anything in it, not even open up a photo. This just started about a week ago.
In the 'update' dialog there must be listing of the component/application which it want to update. Please update your applications (keeping Organizer, Editor or other conflicting process closed) once and see if it shows the message again.