We are seeing the same problem as well.
Although I cannot give you a live URL, I can tell you a few things about it:
1. We do not have Telerik installed nor registered on the GAC on our test server.
2. The commands show up on each RadDock in our local IIS but not when deployed to the web server.
3. We are using WIndows Server 2008 R2 with IE 8.0.7600.16385.
4. We are using the Telerik 2011 Q1 RadControls for AJAX
5. I can confirm that this does indeed work in Chrome 12.0.742.100.
6. I have tried the suggestion in this thread
to remove all style tags and while that has fixed some other issues it didn't fix the command buttons.
7. I checked HTML behind Local IIS and WebServer IIS and they look the same
I suspect something between IE and the WebResource.axd. Thoughts?