Android 5.0 Lollipop device not detected via USB
After a couple of days of digging, I found the solution to this issue. 

I opened up Device Manager. My first problem is I was looking for Android Composite ADB Interface, which is what it usually is called. I started looking harder. When I noticed ACER Device. My machine is not an ACER, nor do I have any ACER devices attached, or so I thought. I expanded that group and found ACER Composite ADB Interface. 

These are the steps that I followed that got my ADB working with my device. YMMV.




Download the latest USB Driver from Google
I right clicked this device
Uninstall


You may need to reboot after. I did.

Open device manager up again


The device may identify differently, and will probably have a triangle icon.

Scan for hardware changes
Right click the device again
Selected Update Driver Software
Clicked on Browse my computer for driver software
  
Select the path to the drivers that you downloaded at the first step, check the "Include subfolders"

Let it install
Open a command windows (I had to open as administrator)
Run the following:  


  adb kill-server

Now run:  


  
    adb start-server
  

Finally run:  


  
    
      adb devices  
    
  

Profit!