This issue is not always related to the PowerShell Execution Policy. My machine is configured as "Unrestricted" for both PowerShell x64 and x86, but I still get this error message from times to times in Visual Studio 2013.
When I try to open the Package Manager Console:
> Windows PowerShell updated your execution policy successfully, but the
> setting is overridden by a policy defined at a more specific scope.
> Due to the override, your shell will retain its current effective
> execution policy of Unrestricted. Type "Get-ExecutionPolicy -List" to
> view your execution policy settings. For more information please see
> "Get-Help Set-ExecutionPolicy".
This is not a valid error message.
Rebooting Visual Studio does not always resolve the problem.
Running the process as an admin never resolves the problem.
Like Declan, the latest update of the Package Manager plugin fixed the issue: 2.8.60723.765