Ah, I have to third this problem, glad to see that it’s not just me.
I just finished going around in circles with Facebook support. They’ve asked me to clear my cache and try a different browser for a third time now. I could show you the exact same screenshot but with my account.
I believe I lost the connection with the 2.0 update but trying to reconnect leads me to the same greyed out Instagram account and no way to proceed.