Yeah, network features is something that isn't going to work reliably right now, we still have to hook up PS3-specific network features in our crossplatform networking code, so just ignore all that stuff for now. The reason it's not hidden is because once again we intend to eventually support it.
Yes, regarding "Menu Shader Pipeline", only simple ribbon is supported for now. We don't have Cg shader ports yet of any other pipeline shader like Snow, Bokeh, etc. Maybe later. This is also why it's not hidden, because the intent is there to eventually add Cg versions for these.