Just to update on how I resolved my problem (before egardner responded with her solution).
I uninstalled Jetpack 2.0.4 and rolled back to earlier version of Jetpack 2.0.3; after which, it will prompt you to upgrade to latest 2.0.4. I did that and everything works fine after.
Some other users feedback (sorry, I forgot where I saw, but it’s one of the forum posts) similar issues and one proposed this, and it works for me.