As I covered at Search Engine Land, Google is discontinuing the saved searches interface within the Google+ circles drop down.
Google is asking you to bookmark those saved searches instead.
Here is the message I get when I check some searches I have saved:
Saved searches are going away. Bookmark this page on your browser to save your Google+ search for later.
This is not a major set back for me, I've already set up my bookmarks for my saved searches. So not a huge set back, but change is not always fun, especially when there is no speed or efficiency improvement on my end.
Forum discussion at Google+.