This problem affects all ALTMEMPHY-based external memory interfaces targeting Cyclone IV devices.
Simulation of an ALTMEMPHY-based external memory interface fails with the following error message:
can't read "lib_list(cycloneiii_ver)": no such element
Cyclone IV simulations require Cyclone III libraries, because many atoms and modules from the earlier family are reused. The problem is that Cyclone III has reached end-of-life, and its libraries have been removed from the Quartus II software version 14.0. Consequently, simulations of ALTMEMPHY-based IP on Cyclone IV devices in the Quatus II software version 14.0 or later, will fail.