Each beta site has such box in the right sidebar of the homepage:
Expected behavior when clicking "stack exchange" is the list of sites displayed and auto scrolled to the relevant site, or if grid view then the relevant site will auto expand itself.
Observed behavior: it's just showing the list of sites and that's it.
The link raw URL is something like
http://stackexchange.com/sites?expand=true#movies so it looks like it used to work before and got broken at some point. (no named anchors anymore)