After talking to support I found out that the developers removed this sub-tab in an update sometime last week, and that it will be an estimated 2-3 months before the developers re-add it. I've been told by support in previous calls that Asset Inventory scans should be run by Empower & not Protect, so now the only way to see what applications are installed on computers is to click them individually & view the device details. Kinda painful when you're trying to find out how many computers have a certain version of a program installed on them.
How's everyone else working around this issue? You can run an Asset Scan on the computers from Protect but then you still have to click each individual computer to see what applications are installed.
Just wanted to make you aware that we're not ignoring this. Our developers are working through the current issues with the Applications tab and hope to implement it again as soon as possible. Our apologies for the inconvenience this has caused you.