To everyone whom this concerns;
Just an FYI, I turned off all the plugins: no luck.
I backed up critical data, Blew the whole site out (deleted), uploaded WP 3.5 fresh, replaced wp-config and .htaccess, and installed Jetpack 2.0.3 alone: Link disappeared from menu.
Updated to 2.0.4 when I saw that it was released: Fixed the menu, 403’d my site.
I am convinced that this is now a problem with the host, BIZ.NF, as this is for free hosting (using as temporary proof of concept for customer). All my other sites, including my personal one, are at WP 3.5 and JP 2.0.4 and working FINE.
Thank you Jeremy for all the fine work, keep it up, and consider my issue as resolved as it will ever be.
P.S. Still loving me some Jetpack