Since 2.3.3 (where we fixed the problem with the prefs page showing up where it shouldn't), it now doesn't always show up where it should. I'll see when I look at a project right after starting eclipse, but then it stops showing up.
Anonymous
In the 2.3.2 plugin (I haven't checked yet in 2.3.3), it seems properties show up when right clicking on a project in the package explorer and choosing "Properties", but not when selecting the project in the Package explorer and then chosing "Properties" from the Project menu.