Hi guys - thanks for posting about this and apologies for the problem. We have verified this bug and are in the process of pulling the update so we can post a replacement that does not suffer this problem. Since it is night where the After Effects team is, this won't likely be complete until tomorrow.
In the meantime, please DO NOT install the After Effects 2014.0.1 (13.0.1) update if you have not already. If you have, you can copy your preferences files manually from the 13.0 folder to 13.0.1 folder. Matthew Sorrels and Creative FX Studios have listed the paths for Windows and Mac OS in their posts above. However, Sync Settings will not work until we issue a replacement update, and note that when we fix this issue your preferences in the 13.0.1 folder won't likely be copied back.
Uninstalling After Effects CC 2014 and reinstalling may also work to restore you to a non-updated version. I say "may" because I have observed that the Creative Cloud desktop application sometimes automatically installs updates when you install the main application. I am seeking clarification on this point.
Again, our apologies about this. Our faces are red from contact with our palms.