It should be fine. That chip is fast enough for basic stuff, or some light gaming if you arent afraid of low settings and reduced resolution. Supposedly it will run skyrim on medium with 30 FPS, not sure at what resolution though. Anyway.. I think things like what you want to run are really more CPU intensive than GPU.
I have used hd graphics 3000(which is worse) with premier cs4 and it was enough. Hd 4000 is quite a bit better, and you should be able to run it fine. What CPU do you have? Having a better CPU in premier is more important than GPU as DiaSin said. However you should still be able to run it, I ran the cs4 version on a mobile i5, so you should be fine, just make sure the rest of your system is up to the task.