No!
A 3D program such as 3D Max, Maya, or Blender. Also Sony Vegas Pro or After Effects can create logos. Video Copilot is more of an accessory programs. Particle Illusion is also an accessory program with templates and stock animation to use. Video Copilot prides itself in using actual live footage for explosions, gun fire, and smoke.
It take a lot of practice. I use Photoshop to create the fonts and Sony Vegas to do the lighting effects and animation. The effects are done with layers, like using Photoshop. Adobe Premiere Elements does not give the great degrees of control frame by frame as even Sony Vegas Home Studio, the watered down version of Pro. Frame by frame, layer by layer, you can control the lighting, chroma key, transparency, and turn on or off a visual effect.