Yet another "The project was saved in a newer version of premiere pro and cannot be opened in this version."

Okay, the problem was solved, although Vidya's instructions did not solve the issue directly (and to answer Peter's question, I did try importing and it didn't work.)

I was using OS 10.9.5, and the CC app did not show that there was a new update because the new update was not compatible with 10.9.5, only 10.10. I discovered this only because when going to the premiere direct download link that I found online, I got the following notification in my browser:

I would suggest that Adobe make an update to the CC app itself in anticipation of future OS and version updates that when CC is installed in an outdated OS, CC's Apps tab should *still* show that there is a new update available (even if it is uninstallable) and when the user tries to install it, they receive the warning about the unsupported operating system. Right now there is no notification system within the Apps that would have denoted that the reason I could not see the update was because of my OS. A simple popup warning would solve this for any other issues having this problem.