With yesterday's updates, Canonical made some changes to the upcoming Ubuntu 12.10 (Quantal Quetzal) operating system, regarding the two panel indicators.
More exactly, the Fast-User Switching indicator has been removed and it is now integrated in the existing Session menu indicator.
That's not all, as the Session menu indicator has been completely revamped, and it now features the highly anticipated "Restart" option, and the "Displays", "Startup Applications" and "Software Up to Date" entries have been replaced with the "About This Computer" and "Ubuntu Help" entries.
Moreover, the "Lock Screen" entry has been renamed to "Lock", as you can see in the screenshot above, showing a before and after comparison of the Session menu indicator.
Overall, the panel now looks simple, awaiting new indicators. However, considering that Ubuntu 12.10 is in Alpha development stage, everything is subject to change.