A Revolution in Education
First of all, Mac OSX Mountain Lion 10.8.X is presently unsupported by SMART Notebook; at least not until early-mid November. So you may experience some unexplainable behaviors.
However, one thing you could check is whether SMART Board Tools is running (as indicated by its presence in the dock). This is because it is through SMART Board Tools that the Floating Toolbar can be manually disabled or enabled (CTRL+Mouse_Click on Board Tools icon and choose to Show/Hide Floating Tools)
If it had been disabled, it will explain why it did not show up even when connected to the SMART Board.
David passed this on to me to post here:
One more thing you could try is to delete the Floating Toolbar files (.xml files) located in Users/USERNAME/Library/Application Support/SMART Technologies/SMART Board Drivers/. However prior doing so, SMART Board Tools and SMART Board Service should be exited (force quit) via Activity Monitor.
Once the files are deleted and with both Board Tools and Service relaunched, the software should rebuild the Floating Toolbar. Hopefully, this will get your missing FT back.