Did I lose insert slots going from Elements 11 to 12?

I am getting some strange warnings in Elements 12 - it says on every trrack that I am using more slots than 12 allows, and my meters are all over the place and my headphones are smoking hot. (My Cubase Elements 11 shows 6 pre and 2 post.)

On closer inspection, my ‘free upgrade’ was to Cubase LE AI Elements, ie, Cubase LE (not Elements - an upgrade to an old v.4 LE license I had). No worries.