Oh, you're right, I didn't even see this in the patch notes... as a lot of people didn't, I'm sure. Well... there you go then.
A recast timer for actions and items will be displayed.
For Windows, Mac, and PlayStation®4, this option can be enabled or disabled under the Display tab of Hotbar Settings in the Character Configuration interface.
For PlayStation®3, this option can be enabled or disabled under the Cross tab of Hotbar Settings in the Character Configuration interface.