Version 3.8 of Recovery Partition Creator works just fine with Yosemite. I use SuperDuper! for my backups, and unfortunately, it does not back up the Recovery HD partition (Carbon Copy Cloner does). In any event, about 1 1/2 months ago, I suddenly had an issue with an internet site and Firefox. This happened two days after I had made a SuperDuper! backup of my system on my Mac Mini. Instead of spending time on trying to find out why (I think it was due to a program I downloaded and ran to try and help a user on a forum), I booted from the SuperDuper! backup, ran Disk Utility from there to erase and re-format my internal 256 gig SSD, and then did the restore from the backup. Worked like a charm, and I was back in business. But, I was missing the two key small partitions Recovery HD, and the eDrive created by TechTool Pro. So, I first launched TechTool to successfully re-create the eDrive partition. Then, I ran Version 3.8 of Recovery Partition Creator, pointed to the "Install OS X Yosemite" file, and voila, the Recovery HD partition was successfully created. I even tested it by being able to boot to the Recovery HD partition.
I have been on forums associated with Recovery Partition Creator, and quite a few folks (including myself) have asked the author if a Yosemite "update" will be coming. Unfortunately, none of us has received a reply. But, on a couple of those forums, other users have also reported success with the software and Yosemite.