I was going to say that if you have multiple terminals open, the task switcher shows only one of them. However, I just figured out that you can choose different ones by using the arrow keys.
However, it still feels like a regression of how it used to be. I have quite a lot of terminals open, and cycling through them with Alt-Tab was effective for choosing the correct one. Now I see an option of a bunch of terminals, but the text is so small, so I can't see which one I want to switch to.
ProblemType: Bug
DistroRelease: Ubuntu 11.10
Package: unity 4.12.0-0ubuntu2
ProcVersionSignature: Ubuntu 3.0.0-10.16-generic 3.0.4
Uname: Linux 3.0.0-10-generic x86_64
Architecture: amd64
CompizPlugins: [core,bailer,detection,composite,opengl,compiztoolbox,decor,gnomecompat,snap,regex,mousepoll,resize,vpswitch,imgpng,place,resizeinfo,move,animation,grid,workarounds,wall,unitymtgrabhandles,expo,session,ezoom,staticswitcher,fade,scale,unityshell]
Date: Mon Sep 5 17:22:23 2011
ProcEnviron:
LC_TIME=en_US.UTF-8
PATH=(custom, user)
LANG=en_US.UTF-8
SHELL=/bin/bash
SourcePackage: unity
UpgradeStatus: Upgraded to oneiric on 2011-09-04 (1 days ago)
We also have ctrl+` key to switch directly between the window of the same app.