I am using IntelliJ IDEA 13.1.4 and also tried the latest release 14.
Running SBT I get the following error:
Error:Cannot determine Java VM executable in
You should be able to work it around by setting the jdk from the settings not from the open/import project dialog.
From the welcome screen, go to Configure -> Project defaults -> Project structure and add the jdk.
Configure -> Project defaults -> Project structure
Opening the sbt project should work well then.
Found solution from here