This is a known issue brought about by the Lion update. For More Information see: Status tool bar button missing after update to mac os x lion
This is one of many acknowledged bugs that can be found in the Known Bug List here in the Report an Issue section of the forum.
It can also be downloaded as a database file from: http://www.4shared.com/file/8orL8apk/FMP_Bugs.html
Thanks for the info!