Hi. It appears that Page Templates have disappeared in 3.4. I'm running Safari for Mac 5.1.3.
They are still mentioned in the help dropdown at the top of the screen...
Template - Some themes have custom templates you can use for certain pages that might have additional features or custom layouts. If so, you’ll see them in this dropdown menu.
Unsure what else I can do to check.... Is 3.4 looking for Page templates in a different area?