First of all I am a VR14 and am well aware that I no longer level up. However I have attached a quote from ZOS Admin which in fact is not happening.
ZOS_JasonLeavey admin
November 13 Staff Post
Hey there,
@Palidon. What
@milthalas is correct, so while VR 14 is the cap in Veteran Ranks, you'll continue to earn XP, which will useful when we implement the Champion System.
As of patch 1.5.4 the XP figure that appeared on my bar when I started the game was 1,114,135 of the 1,000,000 now required for a VR1 to VR13 to level up. Now any XP above that figure that I then accumulated during a period of game play was added to that amount. The kicker is when I logged off the additional XP gained was lost. Returning to the game my total XP accumulated had reverted back to 1,114,135 again. To date I have lost over 300k in accumulated XP.
I don't know if any other VR14 players are seeing the same problem. I have turned in a ticket addressing this issue.