I too have had this issue for at least a month (as of August 8, 2012) on a Revue updated to Android 3.2 and with no installed applications beyond what came on the Revue.
Until today, calls to Netflix yielded the boilerplate "your connection is faulty. Reset the router/modem/Revue/Netflix account". And of course nothing resolves it. My connection tests out at 25Mb/s on a PC and 29Mb/s on the Revue itself using the Speakeasy Speed test to SanFrancisco. No packet loss or obvious speed bumps. I have reset the modem/router/Revue. I have deleted all the "data" associated with the Netflix player in "Manage Appplicaitons". I have disabled and then re-enabled the Netflix account. I have rebooted numerous times.
But then today, a call to Netflix got me to someone who did some digging. He told me that according to what he was told, Logitech "removed the thumbnails to make the Netflix player operate faster". Nothing that Netflix can do about it.
I am not entirely sure I believe this answer, since the thumbnails DO show up.... occasionally. Then they go away again. Perhaps his answer was an over simplification with a germ of truth?
In any event, this is of course utterly unacceptable. If the answer is even partially true, Netflix needs to lean hard on Logitech to fix it, and Logitech needs to GET IT FIXED. It used to work. They broke something. Yes, I am aware that the Revue is a dead and buried product, but this damages Logitech's reputation severely, at least in my book.
I have Emailed Logitech, but I will be shocked if I get anything beyond boilerplate. I will also try calling them, but it doesn't look like they provide telephone support for the Revue.
I am so tired of products that are set loose on us customers and then are poorly supported, if at all.
Paul