Bridge V 8.0.0.262. Where has the apply presets option gone?

A recent update seems to have removed the ability to create a "custom preset" and then "apply" it to an image file from within the Bridge workspace.

I used to be able to select a series of *.cr2 files in the content panel, right mouse click, have all my "custom presets" as an option in the menu list, select the preset, and apply it to all the images without having to open them up in ACR.

It is no longer there as an option.

Where has this valuable tool gone?