I could not really find any posts on this out there, so I decided to just share this here.
You may experience installation errors when you try to install Reporting Extensions for AX2012 R3 on SQL 2014. The setup crashes internally, rolls back the installation and fails.
In the installation log you will see the error "Version string portion was too short or too long".
The solution is available on LCS as a downloadable hotfix KB3216898 (released 10th of January 2017) here:
Unpack the content of the hotfix and slipstream it as part of your AX2012 R3 installation and run the installation again. Now it will work.
Just to make this sure people find this post if they search for the errors, I'll add the full call stack below:
An error occurred during setup of Reporting Services extensions.
Reason: Version string portion was too short or too long.
System.ArgumentException: Version string portion was too short or too long.
at System.Version..ctor(String version)
at Microsoft.Dynamics.Setup.ReportsServerInstaller.GetOrCreateServerConfiguration(String instanceName, String sharePointServiceApplicationSite, Boolean& createdConfiguration)
at Microsoft.Dynamics.Setup.Components.ReportingServicesExtensions.InstallConfigurationFiles(String instanceName, String sharePointServiceApplicationSite, Boolean& createdConfiguration)