Without exact info about your project, version of AE and so on nobody can tell you anything. Just guessing around serves no purpose.
Since I donwloaded the latest trial version of AE 184.108.40.206 it seems to work now.
The AE projectfile still shows the white blank paper icon instead of the aep icon but I can import the text template into PP and edit it.
I downloaded the live text template from the Adobe tutorial How to use Live Text templates from After Effects in Premiere Pro | Adobe Premiere Pro CC tutorials
I'm working on Mac Yosemite 10.10.5
PP 2015.1 version 9.1
Still wondering if this will continue to work after the trial version of AE has expired...
Has anyone tried this yet?
It sounds like you've had Premiere Pro for a while. Unless you're renting Premiere ONLY, you also have AE. You wouldn't need a tryout version.