retag button is gone and only
edit remains. This has made a few negative changes for users with the retag privilege but not the edit privilege.
On a child meta site (i.e. a meta site other than Meta Stack Overflow), the
edit button is grayed out if you don't have the edit privilege, and there is no longer a
retag button on questions. However, it is still possible to retag a question by manually visiting
http://meta.$sitename.stackexchange.com/posts/$id/edit. It wouldn't be right to make that screen easily accessible though, as it looks like it allows editing the rest of the post.
(On a lark, after successfully retagging, I tried editing the body. This added an entry in my activity, but as a revision that didn't make any change; the edit itself seems to have been discarded, as it should have been.)
The retag interface should be retained on meta sites, or something equivalent.