You might try to uninstall the previous installation:
Uninstall Acrobat X in Mac OS®
In Applications > Utilities > Adobe Installers, select the Acrobat X Uninstaller and double-click it.
Follow the onscreen instructions to uninstall Acrobat.
In the Authenticate dialog box, type the user name and password for an administrator account and click OK.
Note: The uninstaller removes only Adobe Acrobat X files from the system. It does not remove Adobe Reader files, Acrobat user data, or files that are shared with other Adobe applications.
(Optional) Move any Adobe PDF Settings files that you created from the Library/Application Support/Adobe PDF folder and drag the folder to the Trash.
Uninstall Acrobat X in Windows®
Open Control Panel > Programs and Features (Vista/Win 7) or Add/Remove Programs (XP)
Find the entry for Acrobat X, select it
Click Uninstall and follow the on screen instructions
Note: be sure to check the list again after uninstallation to ensure the Acrobat components are removed
After uninstall try reinstalling Acrobat X from within the Adobe Applictaion Manger
I did uninstall the application from the CP. The issue was that there was another Adobe application that I did not uninstall since it did not seem to have anything to do with ACR. It wasn’t an actual program like PS or AI but it did have something to do with application manager. When I killed that one, I was able to reinstall ACR from application manager.