As of CC 2014 you can’t export MP4 video directly in After Effects, but you can use Media Encoder. This is mainly due to the fact that the old MP4 export system in After Effects had to be rewritten which was more trouble than what it was worth to the developers. Especially since all CC subscribers get Media Encoder anyways.
I made a video tutorial about this if you’re interested: https://www.youtube.com/watch?v=ClGaK8fIJVk&lc=z12ru1x4vqmnejz0j232xzywfl2ggth5g04
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