The option's value doesn't matter, so you're never hidden. I removed the option to hide or not hide.
If you have issues with stalkers, let me know.
EDIT: If you're just looking for the online/offline icon under the person's name and avatar, it's been changed so that the color of the person's name is a reflection of their status. Dark means online, whereas gray means offline. Check out a longer, older thread to see what I mean.