After installing the lollipop upgrade last weekend, I notice via OS Monitor app that the kswapd0 system memory swapping app is running constantly with anywhere from 5-25% CPU. When the developer option "flash on long operation" is enabled, the red flash can be seen constantly every few seconds even when no apps are running and the device is sitting on the homescreen. This never happened under 4.4.4. My rate of battery use has increased significantly -- previously, I could get 8 hrs on a charge with normal use, now only 5-6 hours. GSam Battery App reports around 20-25%/hr use; previously under 4.4.4 it was 15%.
Additionally, a serious issue is that occasionally the device does not recognize the Fast Charger is plugged in -- it goes into USB Charge mode, which sometimes is insufficient to provide enough charge to avoid running down the battery when the swapping is too high! This happens even when it is completely powered down - it will not charge properly for some time. Eventually, it goes back to normal and resumes fast charging.
I have wiped the system cache (several times), but I prefer strongly to avoid factory reset (and not sure that will actually improve the swapping issue, anyhow). I wish I had not upgraded to 4.4.4, and hope that Verizon will quickly provide a patch for these problems.