I've moved this from the poorly named Community Help forum (which is the forum for issues using the forums) to the Photoshop Elements forum.
Yes you are permitted two activations.
Moved from Photoshop to Photoshop Elements.
You can install paid PSE on multiple devices (home/office, laptop/desktop). However only 2 devices can be activated simultaneously. And only ONE device may be used at a time. In other words, your individual license cannot be shared with other users.
Photoshop Elements End User License Agreement (English starts on page 113).