I was writing up a bug/feature request: can't launch 1P from mini-menu. Then I took one more look, and found it in the "gear" menu. I nominate this for the "Did you know" list.
Will do, we plan to write up a doc with all the tips, shortcuts, and tricks you can do in 1Password 4.
Thanks for posting this, jackr! I came here to ask that they put the feature back in and found your post. Cool!
Having said that, "Open 1Password" would be better positioned in the main drop-down. Doesn't seem to be overly user-friendly to hide it in the gear drop-down.
@Daniel, you can access the gear drop-down with the cmd + , keyboard shortcut. (I know that doesn't specifically address your point about the link being "hidden" but I find the shortcut very useful. Personally, I'm not sure I want too much in the main Mini screen anyway—but that's just my view, of course.)