Please provide a screenshot from Ps->Help->Update->Preferences. Please ensure Camera Raw entries are present here.
This ensure your updates application.
If it is not present then you need to re-install PS CC 2014 It would be listed in Previous Version section. (http://helpx.adobe.com/creative-cloud/help/install-apps.html)
Please follow the below mentioned steps to resolve the issue:
- Quit and Relaunch CC app
- Open the Adobe Creative Cloud application.
- Mac OS: Go to the Applications folder and open the Adobe Creative Cloud alias.
- Windows 7: Go to Start > All Programs > Adobe Creative Cloud
- Windows 8: Open the Adobe Creative Cloud application from the Start Screen.
- Click the Apps tab in the Adobe Creative Cloud applications.
- Click on All Apps, then Previous Version
- Your installed CC Product would be listed, Click on Install Drop-down and then select the CC 2014 to install.
- After Successful Installation, Update your Product
Let me know if you are still not able to Update ACR.