For anyone interested in updating to Yosemite, SmartNotebook 11.4 is no longer supported according to Smart Technologies. Smart officially is stating "one must upgrade to version 14.2 AND have an Advantage membership moving forward". This was not acceptable for me/us so i found this fellas workaround to restore SmartNotebook 11.4 for use in Yosemite:
http://lkrms.org/running-smart-notebook-11-4-on-os-x-yosemite/