Here is where my fist issues arrises. Once the project wizard has completed and I right click run as Adobe Illustrator Extension I get the error path not found. So using the window->preferences I modified the path to illustrator. Now I am getting an error to check the location of CEP Service Manager. This (also in preferences) is currently set to: C:\Program Files (x86)\Common Files\Adobe\CEPServiceManager4. Can anyone tell me what this should be set to to not get this error?
Ok after some extensive Googling I came across this article (Adobe Extension Builder and Creative Cloud 2014) which gives a rundown of all the settings that need to be made to your machine including changing the path in the settings. Below are the settings I used on a Windows machine since they are listed for mac in that article.
Service Manager Root Folder = C:\Program Files (x86)\Common Files\Adobe\CEP
User-Specific Service Manager Root Folder = C:\Users\current user\AppData\Roaming\Adobe\CEP (note: the CEP folder did not exist. I just created a blank one)
After completing these steps I was able to launch the panel without issue.
Now the fun begins. I will keep this post updated.