Thanks for your input. I'm not sure how to uninstall the application manager, but I reinstalled the CC app, restarted my computer and disabled automatic syncing, It worked okay for the first 15 minutes but now it's back to its usual laggy self and my system keeps stalling when working on documents (can't browse web pages, use Windows Explorer etc). I guess some slow down is to be expected, but I never had these issues prior to updating to the 2014 apps (which have now been uninstalled).
Is yours still working okay?