This problem is now back in Photoshop CC 2014.
And the original solution does not work.
Photoshop can indeed be "browsed to and selected" but then it never shows up on the list and the OK button is not clickable.
tried all the normal things any sane person would assume. browse to C:\Program Files\Adobe\Adobe Photoshop CC 2014, clicked the EXE, double clicked the EXE, tried to drag over.
nothing
ahh. the Adobe forums, every year, every release, a new nightmare every time.
(I will want this time back on my deathbed, I am considering sending an invoice for the hour of my life I lost to this simple standard task that every windows user should be able to do in less then 30 seconds with a right click)
To save someone else another headache, CCcleaner did not work but it did seem to screw up dreamweaver real bad, for whatever reason it decided to delete 138 STE files and the passwords with them.
good thing I back that up monthly
cheers.