Generate Image Assets does not generate the subfolder specified by adding small/50% jared-sm.jpg to layer. Instead an error file is produced that says, "...File name contains invalid character "/"". Using Photoshop v14.2.1 x64 on Windows 8.1.
I update to the current version. While the About Photoshop screen now says 2014.2.2 release, I assume this must be the v15.2.2 you are referring to. This version has fixed the problem. I can now generate the subfolder specified in the layer name. Additionally, I am able to use the default layer functionality now, which I could not do before.
Thanks. I love it.