When adding Content: has taxonomy term id contextual filter to view and check specify validation criteria box, why don't I see validation options?
Duh, in case anyone else runs in to this problem:

This really boiled down to after adding a contextual filter, if I clicked any of the checkboxes under the heading "When the filter value IS in the URL or a default is provided":

Override title 
Override breadcrumb 
Specify validation criteria 

I did not see any of the options for any of those checkboxes appear after checking it.

Turns out I didn't have the most up to date version of the chaos tools module.

When I updated to chaos tools 7.x-1.3 (sometimes referred to as ctools) problem fixed.