Yeah, I'm pretty shocked about this. It's something that made every person in our family, and every visitor to our house, would stop and stare at on a daily basis. Not to mention I've seen it in museums and art galleries and shown my work with it (I'm a photographer).
Pretty ridiculous that anyone at Apple could have thought removing one of the best features of OS X, which was probably a 3kb file, was a smart idea. But Lion (and ML) are just chock-full of "brilliant" ideas like that. (LOVE how new Macs no longer have a Dashboard key, which was useful, and instead show Launchpad, which is useful for six-year-olds at best. Remember At Ease? It's exactly the same thing. It was stupid then and it's still stupid now.)
I can't use ML because of this omission -- I use it too much -- and that means I also can't buy a Retina MBP. Great. Thanks for preventing me from giving you more money, Apple.