So, in summation, what it looks like is:
- If you've never enabled "Show Folder", option shows it in the drop-down.
- If you've enabled "Show Folder" previously, shift shows it in the drop-down.
- If you newly enable "Show Folder" or toggle a previously enabled option, you'll see what joemike and I are seeing (with the possible exception noted in my immediately preceding post) (*).
(*) If your version of OS X/macOS is relevant, I'm at a loss as to which versions go which way, because I can only check in Sierra.