Had the same issues getting an authorization token on my Nexus 5 on Windows 8.1. I didn't have the latest adb driver installed - this is visible in device manager. Downloaded the latest ADB USB driver from Google here: http://developer.android.com/sdk/win-usb.html
Updated the driver in device manager, however enable/disable USB debugging and unplugging/plugging USB still did not work. Finally the "adb kill-server" and "adb start-server" mentioned in other answers did the trick once the driver was updated.