Adobe has released a full document on what is new of Premiere Pro CC 2014.
They have videos to demo the new major features, such as Masking and Tracking within Premiere Pro, Live Text Templates from After Effects for editable lower thirds and title cards, the awesome Master Clip effects which are added to master clips and show up everywhere the clips show up.
Other less publicized features are you can set up automatic project backup to creative cloud. Reverse Frame Matching! Set clips to Frame Size from a drop down menu, and they don’t rasterize, so you are always going to the original to get the best image! AWESOME!
You now have some choice when importing projects, and can import just sequences and create folders and have the choice of duplicating media or automatically using media already in your project.
You can also browse after effects projects in the Media Browser, so you can preview compositions before importing.
A feature that should have always been there in every program is to Maintain Audio Pitch while scrubbing and playback either slow or fast! YES!!
There are Voice Over enhancements. All effects are now cross platform, which means we have lost many effects (though none were that great anyway).
And the most awesome for speed is Cross Dissolve transitions can be saved as Presets! So you can have multiple length effects set up already, and you can change multiple transitions at once!
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Premiere is really improving, and at this rate will easily be the best editor choice around. AVID is going to have to learn that they need to upgrade quickly now that they are also doing the subscription model or they will fall behind really fast!