I have a panasonic that also uses .mod files. I dont know if its the same on yours but they are just mpeg 2 videos on mine. I can simply rename them from file01.mod to file01.mpg and they play find and can be opened in any editor.
Try to rename one to .mpg and see if it works, might be just that easy. Also, I got a batch file renameing program, so I dont have to change 20 files each time I record with it.
 I like my hdd camcorder, takes 4 seconds to turn on and you are recording. No checking your tape to see if you are recording over sometihng you havent saved yet. 2nd of course, no tapes. Next I would say being able to copy 10 minutes of video in 45 seconds. You not waiting 1 hour to copy a 1 hour tape.
Premiere Elements 4.0 supports the .MOD file format, but you may still need to have the camcorder connected to your computer for the capture/import to work. Meaning, I don't think you can just open up a .MOD file from your hard drive within Premiere Elements 4.0. Premiere converts the file format upon capture/import from the camcorder. I believe that's correct in what it does specifically. But, I know for a fact the Premiere Elements 4 says it supports .MOD.
Mark