Appreciate this is months late but having only just seen this issue, suspect I know why.
Out of the box, Apple TV 2 defaults to a US setup and thus Netflix will appear in the menu as will TV Shows. Don't believe me? Do a full reset and see for yourself.
However, when you log in to your iTunes store account and your Apple TV obtains your account geographical location, customisation takes place and Netflix and TV Shows gets zapped.
So not a bug, if this is what is happening.