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You probably just clicked the material header. You can click it to contract/expand the material properties
There's no way for me to try it, so, I'm not sure if it still works that way with Unity 5
Is the problem in the topic still present even in Unity 5?
You can't use it in the normal slot either - perturbed means *after* whatever you have in the normal slot is applied.
You can't plug a perturbed normal into the vertex offset or outline width input, which I'm guessing you did :)
Odd, don't see anything wrong with it. It could simply be too expensive. Try making it simpler and simpler, and see when it starts working
Thanks for the heads-up!