I had the same issue after the upgrade and fixed it as follows:
Click on the Lightroom in the top left menu, select Presets and make sure "Store Presets with Catalog" is checked.
You'll have to restart Lightroom for it to show. Hope this helps.
that is a really bad idea. the presets will only be available in that specific catalog. NOT in any other catalog. :-(
In LR, in Library module, in Presets panel, click on the + symbol, select Manage, see if your preset is simply not checked to be visable. Adobe has altered Thus little bit in order to cut down on the number of presets available by default in that the more presets are visible in the presets panel, the more presets LR reads each and evertime you click on a thumbnail, eventually slowing things down.