Majority of devices will not be able to render 720p or 1080p video in 60 fps using Kitkat 4.4. I believe this has to do with downclocking the boost clock in order to get better battery life. :-\
My Phone:
Moto X 4.4 - Both Dalvik and ART are broken
http://www.optofidelity.com/wp-content/uploads/2013/11/OF_VideoMultimeter_Nexus7-_EN.pdf
My Phone:
Moto X 4.4 - Both Dalvik and ART are broken
http://www.optofidelity.com/wp-content/uploads/2013/11/OF_VideoMultimeter_Nexus7-_EN.pdf