I didn't download the original update and fortunately spotted it had been sneaked into windows updates so moved it to "hidden updates"
When looking at windows updates today, I checked update was still safely hidden but was surprised to see that it had vanished from the hidden list! Checked installed updates to be sure it hadn't sneaked through and, thankfully no sign of it.
I therefore went to the MS article :
https://support.microsoft.com/en-us/kb/3093594
Article was updated on 2/2/15 and, under "further information" at issue 3 it now says:-
"Issues 3:Some customers have reported other issues with the release on December 17, 2015. This update is no longer being offered while Microsoft investigates these issues farther. Server interactions will remain supported during this investigation."
Presumably that explains why it has vanished from my hidden updates?!
What a sorry mess MS have made of this.
To date my WLM2012 on Win 8.1 64 bit continues to work ok.