Linked query button is not doing anything.
Version 11.0.4.1788 (64 bit) (same for the 32 bit version)

Seems this is happening when selecting from some synonym which again is pointing to some view in a different schema.
In such a situation the "Custom..." entry is not shown preventing the creation of a linked query.
(So it works for queries based on "regular" tables)

It does indeed not work for views. I have added this to the list of enhancement requests.