Same thing happened to me. Its the last Title Update. It removed the Last Combat Training Prestige Glitch, the online prestige glitch, and the local game options. You can go to system settings->memory->your device "Hard Drive" -> games -> CoD: Black Ops -> and find the TU update, and delete it. then go back to Black Ops, Do NOT update, then go to local and you should have the options. Im still looking into this to find another way around it.
Do you play offline ? If so the same thing happened to me , bit I signed up for Xbox live and then it showed up