Hello Kirk, that file would be "13-Keywords-Embedded", which you already have. I see two keywords (Art and Snow) in Portfolio, in PhotoME, and in Paint Shop in that JPG, but those are not displayed by PM5. Again, it is my observation that it may be because the PM5 "2:221" entry has not been moved to the bottom of the list.
The IPTC data in other fields (applied by PM5 stationery pad) are all displayed; those are shown in both JPGs "12..." and "13..." that were uploaded earlier. Those IPTC entries would be "Description/Caption", "Description Writers", "Headline", "Credit", and "Source".
The other update that I have at this time is that after saving the file with Photoshop Elements, the PM5 "2:221" entry is again at the bottom (i.e., it shows up as the last entry in the PhotoME display) and PM5 does reveal all of the IPTC data, including the keywords that were missing after the embed operation from Portfolio. By the way, I am not in a hurry to switch from Paint Shop to PS-Elements.
Thanks, Harvey