Yeah, that was a pretty terrible description on my part. Sorry about that.
I can select the Blackmagic device in the preferences in both Premiere and AE, but nothing previews on the monitor. This same hardware setup (and project file) worked fine with the QT previews in CC, and also with earlier pre-release builds in CC 2014. This sequence is a 4k sequence with R3D files. I haven’t tried rolling back the BM driver, but I did restart, and I did try this with the 10.0 driver (which is the one it was working with in the CC and pre-release CC 2014 builds).