I think it is temporarily disabled, along with full membership form, because of technical limitations with the server shift that happened this week.
The Chat Room has not yet been launched on this new platform, but is due to do so shortly as part of our staggered launch of key areas of the site. Different sections and features are launching at different times to ensure that we can properly manage the migration of the site, and respond to any unexpected issues which pop up sooner rather than later. At present we're still focusing on key issues facing the forum, gallery and blog systems, all of which are being held up by the ongoing reindexing process. Martin.