I have the update. I can run PP 2014 with no problems if I start from a fresh project. However, if I import a project from the previous version of PP, the software keeps crashing. In other other words PP 7.2.2. in this example, is not upward compatible with PP 2014. I suspect your software engineers didn't consider the fact that users may need to go back to projects done in earlier versions of PP so I'm hoping they will add this feature in the next version.
I meant Adobe software engineers!
Open an old project in the newer version and you are offered the opportunity to save it as a compatible project with a new name.
Doing this retains the original project.as well.
I tried that before but to no avail. As soon as I finish my current 7.2.2.project, I'll start a fresh one on 2014 and see how it behaves.