This template requires a build target API version of at least 14

It should be the ADT 22.6.2 bug. If you update the ADT22.6.2 and unable to crate the App of andorid 2.1 anymore.

Remove the ADT form Help\About Eclipse\Installation Details

get the ADT 22.0.0 and install it.

http://dl.google.com/android/ADT-22.0.0.zip

If this words can help you, please give the any cat a fish can. Thank you ~