I have the same problem. However i use Nvidia's proprietary graphics
driver and i have observed that the problem only occurs after applying a
fix for the Ubuntu boot screen. This fix involves the following steps:

Installing the v86d package

Changing line in /etc/default/grub from
GRUB_CMDLINE_LINUX_DEFAULT="quiet splash"
to
GRUB_CMDLINE_LINUX_DEFAULT="quiet splash nomodeset 
video=uvesafb:mode_option=1280x1024-24,mtrr=3,scroll=ywrap"

Changing line in /etc/default/grub from
#GRUB_GFXMODE=640x480
to
GRUB_GFXMODE=1280x1024

Adding line in /etc/initramfs-tools/modules
uvesafb mode_option=1280x1024-24 mtrr=3 scroll=ywrap

Adding line in /etc/initramfs-tools/conf.d/splash
FRAMEBUFFER=y

Updating grub2 and initramfs.

As long as i choose to accept the ugly low-res ubuntu bootscreen that
results from installing Nvidia's driver by not applying the fix or
simply don't install the Nvidia driver at all, i don't encounter the
indicator applet problem! I hope that this will help pinpoint the
problem.

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https://bugs.launchpad.net/bugs/595330

Title:
  Indicator Applet Session 0.3.7 does not display correctly and the
  power options are gone

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