Thank you for pointing out your own found solution to this! Very helpful.
The answer is of course to Turn it back on by checking the reference point box in the top ribbon as seen in your image. I have no idea why this was turned off by default in the recent version update. Just one more thing we've had to look up a solution/reason for a change.
I have the latest version of CC and even when I turn 'on' the reference point (thanks for pointing out that obscure icon - why would they turn it off??) the reference point which used to be a circle shape with a dot in the center does NOT appear like it used to.....
I used to be able to drag that point wherever I wanted the axis of rotation to be.... now, I got nuthin !