I downloaded several CC 2014 programs hoping to use the new library panel. There is no library panel in the window menu for me to select when I try to in both Illustrator and Photoshop. I have CC 2014 programs on my computer at work and the library panel shows up just fine there. I can't seem to figure out why I can't do the same thing here at home.
Kindly check if your software are up to date, refer: http://helpx.adobe.com/creative-cloud/help/install-apps.html#Update apps.
If the software are update to date then try the below mentioned steps.