Google Operating System reports in Bring Back Keyword Highlighting to Google Cache that logged in users have lost the ability to have search words highlighted when looking at Google's cached copy of a web page. "For some reason, Google's caching feature is more and more difficult to use. The "cached" link is hidden inside the Instant Preview box and it's no longer available in the mobile interface. Now the keywords from cached pages aren't highlighted if you are logged in."
I had not realized that cached links were gone from the mobile interface. While I don't always use the highlighting when looking at cached pages, if needed, at least one option is to re-do the search in a non-logged-in browser or use the URL modification trick mentioned in the blog post. Since no keywords are highlighted, the header line of "These search terms are highlighted: . . . " is also missing. Also, as a reminder, the cache used to mention which search terms only showed up in links to the page. Now if you are not logged in and a search word does appear on the page, it is just not mentioned.