I've played two games against the CPU so far, one on rookie difficulty and one on pro difficulty. No timeouts were called in either game. Honestly, I can't recall a single time the CPU has ever called a time out against me in NBA Live 14.
I saw nothing new in terms of CPU behavior. Their approach to defense feels the same. Their offense is still predominantly isolation basketball, with lots of throwing the ball into the post or standing around on the perimeter dribbling out the shot clock. The baseline spin still seems to be their go-to move in the post. And the CPU will still sometimes get stuck in the backdown animation in the lane, causing itself to take a 3-second violation.