Hi Jeff,
Here is a screenshot that I see. I've already downloaded and installed the Dreamweaver update, everything seemed to work smoothly, but it won't go away.
The Photoshop one has not worked in the dozen times I've tried and you can see the error message there.
https://dl.dropboxusercontent.com/u/3098576/Screen%20Shot%202013-05-15 %20at%207.06.33%20PM.png
No loss of functionality. I also have Photoshop, Illustrator, Lightroom, Reader, Acrobat Pro installed.