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I've received a bunch of questions about this. First, it seems no one reads this changelog thread But second, it seems this was quite popular. The problem is, it was running a very expensive query on every single page of the site, we're talking a million very expensive queries a month and growing (the site is growing rapidly).
If I can find a way to cut back some other queries (which I am working on), I'll consider adding this back. I've also asked my developer to look at the query to see if it could be optimized some how, but it doesn't look promising.
It needs to be run in real time otherwise it would show inaccurate and confusing results.
However, I've asked the developer to rewrite the query so it works only on the forum home page. That will greatly reduce the expense of the query overall. Once that is done, I'll re-instate it.
If you click just on "new posts" on the navbar, does it also say no new posts? Could be the new post count is wrong after making some changes to the code.