This bug has been fixed in Premiere Pro CC 2014 (8.0)
This bug has been fixed in After Effects CC 2014 (13.0)
Please update these applications to avoid this issue.
Do you have a computer with AMD GPUs? If so, please ensure that you never install NVIDIA CUDA drivers to your system unless a CUDA card is installed. This can really confuse your computer, and will further cause applications to act erratically, even crash.
In addition to mistakenly installing NVIDIA CUDA drivers manually, you can also wrongly install these drivers via system migration. For example, system migration via Time Machine on Mac OS X can cause the issue. If you had the drivers installed on a previous computer and then migrated your system’s files to a new computer with only AMD drivers, you can get errors. If you swapped an AMD GPU into a system that previously had a NVIDIA CUDA card installed, these errors will occur. Certain applications can install CUDA drivers to computers, so you can get these errors that way, as well.
This issue happens primarily to Mac users. These users must remove CUDA drivers from their computer. To remove CUDA drivers from the Mac, go to “Mac HD/Library/Frameworks” and delete “CUDA.Framework.”
For certain applications, such as Blackmagic DaVinci Resolve, CUDA drivers are automatically installed, even if you have AMD GPUs. CUDA must be installed in order for that application to launch. If other applications have issues, you may need to install a different version of the CUDA drivers. Currently, if you need to have CUDA software installed on AMD hardware, you can install the 5.5.28 CUDA drivers. In the future, consult support for the manufacturer for the correct CUDA driver version.
If CUDA drivers do not need to be installed, please do not install them. It’s best to not have CUDA drivers on non-CUDA hardware unless you absolutely need to, as in the case with Resolve.