I can think of 2 options:
1. You have abridged menus and the option just disappered. This doesn't seem to be the case because it looks like your menu is displayed entirely and if the menu was abridged you should have seen 2 arrows at the bottom of the menu.
2. The more likely option is that you don't have the application builder installed. The AB only comes with the professional of LV. This is supported by the fact that your tools menu does not include any of the advanced functions.
The AB can also be found in a seperate CD, so you can either search your CDs for it, buy it from NI or (if it's a small app) upload it and ask that someone build it for you.
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