We stumbled upon the fact that the "Site wide Subscriptions" manager was totally busted, clicking on the link would result in an unhelpful error page. Fixing of the internal error was done, but reveled that the template is not setup to handle having more than one type of subscription handler, and results in a very broken page layout when the updated data format is applied.

Because the old page layout was pretty bad to begin with, especially on larger sites, and because there is a work around (Using the "Subscriptions to this Folder|File" link) we are leaning toward hiding the current page for the release 21 and re-implementing a new, hopefully ajax based layout for the next release.