The latest and greatest Adobe Creative Cloud 2015 came out, and you should be warned of some issues.
First off the new version requires OS X Yosemite on a Mac, the latest OS Version. This means if you have a computer that is going to be slow on Yosemite or doesn’t have enough memory you are SOL even with a subscription to Creative Cloud. And this makes 2 other major problems.
The first is that when you install the new version the default setting is to remove 2014 from your system. You can get around this if you know by going to advanced settings and not allowing this, or by re-installing the old versions, but this is an annoyance that was never hear before. Normally it kept all your old versions.
And the second and worse part is that projects saved in Premiere Pro 2015 cannot be opened in 2014, and even worse there is not a way to save down a version like Premiere used to have. In fact you could save down a version in each version then open in that version and save down again. Now you can only save projects to 2015.
The only workaround is to export a Final Cut Pro XML and import that in 2015, but that can be messy. On my first attempt at that, the clip size got messed up (making ever clip 33% wider, which was fine for clips that had not been resized, but for resized clips make for a lot of work). And even worse for projects with lots of text created in Premiere Pro, it all gets wiped out, and leaves a clip with some of the text (but not all) as a marker. This is nuts!
Adobe needs to put back in the ability to save down a version, as not everyone upgrades right away or at all!
I have of course reported this as a bug to Adobe (you can see the form right here) and you should to, because if they get enough complaints they will have to put this feature back in!