I wondered why they didn't push this version as an update. Now I know: it causes too much confusion to existing users like me. My menubar was gone too, and there was no big red O. Fortunately I remembered the Ctrl-F12 shortcut to get the settings menu, so that I could restore the toolbars to 'Opera Standard'.
Upgrading Opera has often been problematic, and this update is no different.
Now, off to give it a ride!