I am sorry but Test Studio doesn't offer such functionality. Test Studio stores the elements in the Element Repository during recording and each element is stored along with the necessary Find Logic. Test Studio keeps all of this information into the XML formatted .tstest file. The only way to add elements from different project is to add a test from that project into your current project using the "Add Existing Test...
" option from the Project Files Context Menu
To gain a good understanding of how the Element Repository works please read this KB article
All the best,
the Telerik team