I have just tested on one of our servers running Moodle 1.7+, and the confirm link is where it always has been: on the right hand side in the browse users screen.
You can find this at:
If you are not seeing the confirm link, and they are not getting the confirmation email, are you certain the accounts actually need confirming? Have a look at:
If this is set to "no authentication" then that would explain your problem. You need it set to "Email-based authentication".
Hope that helps,
After two days of combing through the server I decided to create a mock account to see if the confirm link showed up. It did. I was responding to a support request from an admin that was convinced the link did not exist.
Sorry for the wasted post