Do Adjustment Layers work with Live Text Templates. I am making a lower third to be used in PPro. The plan was to have a masked adjustment layer with a fast blur on it, so that the footage behind the lower third is blurred in that one area. This doesn't seem to translate over to PPro with the new CC 2014 templates. Does this work? Will this be added? Am I crazy?
The actual question you're asking here is "do adjustment layers work with Dynamic Link"? Live text templates only change the content of the comp, which is still being fed to Premiere Pro via Dynamic Link.
The general answer to your question is no, the layers in your After Effects comp do not interact with your Premiere Pro layers. The best way to think about this is that Premiere Pro treats the comp like it does any other sort of footage: flat, with no layers to manipulate, though with an alpha channel.
That said, you could certainly use the compositing options and effects available in Premiere Pro to affect the appearance of the comp. Alternately, though this sort of obviates the intent of the live text templates functionality, you could get the results you want by bringing the footage into After Effects, or using Dynamic Link to put the sequence in After Effects, which is easy to accomplish if you right-click and choose Replace With After Effects Composition.