Hi, I have something similar to this happening to me. Does a crash report box also pop up for you? I get one, but it's for Apple, not Adobe. I didn't have my problem until getting a new Mac with Yosemite installed, so it shouldn't be your machine's age.
Part of my error message looks like this:
Crashed Thread: 0 Dispatch queue: com.apple.main-thread
Exception Type: EXC_BAD_ACCESS (SIGSEGV) Exception Codes: KERN_INVALID_ADDRESS at 0x0000000000000000
VM Regions Near 0:
-->
__TEXT 0000000100000000-0000000100003000 [ 12K] r-x/rwx SM=COW /Applications/Adobe Premiere Pro CC 2014/Adobe Premiere Pro CC 2014.app/Contents/MacOS/Adobe Premiere Pro CC 2014
Thread 0 Crashed:: Dispatch queue: com.apple.main-thread
0 com.adobe.AudioSupport.framework 0x0000000103d7f8d0 ML::Device::GetNumberOfPhysicalChannels(unsigned int, bool) + 80