If you have any ignored tag you will see the link “Ignored Tags preferences” in the end of questions list, e.g. on the week tab:
This link currently refers to the general preferences page:
But I think it should refers to Tag Watching & Ignoring page:
BTW now I can’t see an option “hide or grey out ignored tags” anywhere on settings pages. Seems it’s only accessible from the main page:
Perhaps this should be fixed too.