Comment 5 for bug 711233

There wasn't a U1 indicator before, back in Jaunty there was a notification area status icon that wasn't very useful. Remember Ubuntu One isn't just about storage, it is more than that already and over time I am sure it will grow.

The current indicator isn't necessarily "storage", think of it more like a contact has shared a folder with you. You see that pending share from the contact in the messaging menu. Messaging is the best fit we have right now for it.