iPhoto to Photoshop Elements and back?

[Brian Fish]

Hi all,
 It occurs to me that I remeber Steve Jobs saying, during one of his iPhoto
demos at one of the recent Macworlds, that you could configure iPhoto to
export photos to Photoshop Elements for editing and back to iPhoto when
finished with one click.  Does anyone know how this is done?  I often open
my photos in Photoshop Elements for editing because it has so many features
that iPhoto does not have, but I still like to manage my photos with iPhoto.
Any suggestions?

Thanks,
 Brian