The app launcher had a height of zero as it was not getting preferred size up...

chrome/browser/tab_contents/tab_contents.cc

Index: chrome/browser/tab_contents/tab_contents.cc
===================================================================
--- chrome/browser/tab_contents/tab_contents.cc	(revision 46475)
+++ chrome/browser/tab_contents/tab_contents.cc	(working copy)
@@ -777,6 +777,9 @@
   if (!dest_render_view_host)
     return false;  // Unable to create the desired render view host.
 
+  if (delegate_ && delegate_->ShouldEnablePreferredSizeNotifications())
+    dest_render_view_host->EnablePreferredSizeChangedMode();
+
   // For security, we should never send non-DOM-UI URLs (other than about:blank)
   // to a DOM UI renderer.  Double check that here.
   int enabled_bindings = dest_render_view_host->enabled_bindings();