After running Mark for Reenrollment to create the Applicant View of an existing student record, the Applicant View icon is grayed out. The user is able to switch from Applicant View to Student View, but unable to switch back to Applicant View.
Download and install the latest patch, which contains all fixes from previous patches. If you are running an older version, download and install the latest version and then the patch.
Alternative Solution: Run the Mark for Reenrollment wizard again.