Today I installed API8 from the SDK manager, previously I only had been working with API14. After the SDK manager was done, and upon restarting ADT I got this error:
You get that issue when your eclipse ADT plugin version doesn't match your SDK tools version.
Have you tried updating the ADT plugin in eclipse?
Help -> Install New Software and then using the ADT update site should work.
If you get a No Respository Found
error using this site, you should use the HTTPS version instead.
If you're still having trouble getting it to install, you can download the zip standalone and manually install it. You can find the latest zip and installation instructions at the ADT troubleshooting page.