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They left it out in CS4 and im assuming they have left it out in CS5 as well, Only Applications Bar is functioning sadly, I emailed them on this topic during CS4's release. It would of been a major upgrade if it were in there. The functionality of what Application Bar is no where near the functionality of what Applications Frame is. It's pointless to even have. Either put it fully in or leave it out.
@vincentjdamico - you nailed it on the head. It is quite disappointing to think that Adobe still has a half-baked idea in DW that is completely available in every other CS5 application (to my knowledge).
Perhaps Adobe will take note that the most (to my anyway) popular and intuitive Web Authoring Package is missing a truly amazing (if it all expected) feature. Maybe CS6 will have it. In which case, its too little too late.
It's never too late, but i think adobe trying to make it easier for designer's is a great thing. But in alot of way's they still failed to hit the mark in dreamweaver. Too many web sauvy's are being consulted in the beta testing proccess which is hurting the development process of making things simpler.