I noticed the Adobe blog there was a mention that the Work Area would not be displayed by default. I also saw somewhere else on the blog that the Work Area was being replaced by the Sequence In/Out functionality. The Keyboard Shortcuts still has reference to setting Work Area In/Out and yet I can't find a preference or setting to make the Work Area visible.
Is the Work Area no longer in Premiere? Should I switch over to using the Sequence In/Out?
You can turn it on with the timeline flyout menu, but I do recommend you try working with it off. I find the Sequence In/Out to be far more user friendly.
To make the WAB visible go to the flyout menu of the timeline.
Select clip(s) and hit / (forward slash) for setting in and outpoint.