Had the exact same problem with the standalone download. Then I installed the latest windows 8.1 cumulative update and it fixed the Wasteland mouse issue. Wasteland's working like a charm.

Windows 8.1 Update for x64-based Systems (KB2919355)

Installation date: ‎10/‎04/‎2014 12:28

Installation status: Succeeded

Update type: Important

Windows 8.1 Update is a cumulative set of security updates, critical updates and updates. You must install Windows 8.1 Update to ensure that your computer can continue to receive future Windows Updates, including security updates. For a complete listing of the issues that are included in this update, see the associated Microsoft Knowledge Base article for more information. After you install this item, you may have to restart your computer.

Just in case this helps anyone, I had to unplug my joystick before my menus would work normally.