Just what the title says. How can I do it in Elements 8?
i do not believe the Elements version has the “Render In Place” function. So you will have to perform a mixdown of the track you want. In Elements I’m not sure what options you see in the mixdown menu. But you may have options to mixdown directly back into the project. If not, mix it down to a location of your choice then import it back into the project.
Because there is no batch export in Elements you’ll have to solo the track, bypass any master bus FX and then export audio mixdown with import to new track selected.