The YouTube app just received an update to bring a few new features, including a +1 button, "watch later" queue, and the ability to upload while editing video info, along with one unexpected issue. The app description now says it's for Android 2.2-2.3.3, and, as a result, isn't showing up on devices running other versions, including Honeycomb tablets. Despite this, I was able to pull the update on my Incredible running CM7 (Android 2.3.7), although Artem couldn't even see YouTube in the Market on his stock rooted Epic 4G Touch (Android 2.3.4).

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I'm sure that Google will push a quick fix to this, but in the meantime you can grab the apk from here and sideload it without issues.