I think the problem here is that you are a super admin, so you see the Admin Options menu everywhere. The extra menu item pushes the last menu item, Log Out, to the next row. I've seen this happen recently as well.
For now, I suggest we do nothing, as it will only affect the super admins. We just need to be careful not to add anything else to the buddybar for now. As a future development, however, we might consider making the bar go across the entire screen (rather than just in the container area) and pinning it to the top of the browser window (so it stays visible when scrolling, like in the default BuddyPress theme since BP 1.2).
Related: the BuddyPress admin bar, in BP core, needs to be rewritten to be part of WP 3.1's new admin bar, which is much nicer and more flexible than BP bar. If CAC wanted to use its development time in a way that would have the best long term effect on both the Commons community and BP at large, I could spend some Commons time adapting the admin bar for BuddyPress itself, with use on the Commons as a primary use case.
Anyway, let me know what you think, and start a new ticket if you want to talk about admin bar improvements more.
