try going to a specific post on wpcentral.  That works for me.

I checked for wpcentral. I've seen video showing this feature working on their site. 

Maybe i need to install some updates but i can't verify it right now because store is down.

Its there... may be only for supported websites ....

It's there for mehttp://i.imgur.com/aJ6wDGw.png

I noticed it can take a little longer than expected for the option to show up. Not sure if it's due to my connection speed being a little slower today

How can i make my IE let me view page in reader mode? When I open a webpage I don't have this little book icon next to refresh button. I also can't find any setting that would enable this feature.

Windows Phone 8.1 Reader Mode