Sheesh - what a non-issue...

A clip gets greyed out if it is muted via clip mute. If you want to mute just a portion of a clip on a track, there's automated mute. Whatever else would be needed?

It's just like Alex to suggest a ball-gag.... 

Thanks for the feedback guys...  I did actually realize it works the same way it used to...  I use a lot of selective, non-destructive muting of regions when I edit.

For some reason I seemed to be only muting the whole clip, but using the bottom section of the track I can still selectively mute sections.
 
Thanks for all the responses.