The track lengths in the montage should match exactly on the CD so either something is wrong, or you may be looking something wrong.
What (I think) I do know about Elements is that you can’t have track markers and move them around as you wish like you can in WaveLab Pro. Elements just makes the CD tracks based on the clip lengths.
Maybe somebody who has used Elements more can weigh in.
The only time I can think of when you might see a difference is that Apple/iTunes tends to round up. So, WaveLab might say a track is 3min 4sec and 621ms but iTunes might round up and call that 3:05.
Either way, the only way I know how to submit CD info to Gracenote is to burn a CD, and use iTunes or the Gracenote Partner app to send a fingerprint of the CD info to them, and in this case, you don’t enter the track lengths, the track lengths are automatically populated from what the software sees on the CD.