Where is the vertex weight panel in 2.77 "The Vertex Weights panel can be found in the right Properties region of the 3D View. It is available in Edit Mode and in Weight Paint Mode (when Vertex Selection masking is enabled as well). The panel is separated into the sections"

What does it mean by 3d view (is that the default view?)?
No vertex weights panel shows up at all. Yes I pressed N.
For the vertex weights panel (not to be confused with the vertex groups panel) to appear, you need to be in vertex select mode in edit mode and have a vertex that is associated with one or more vertex groups as the active selection. It should then appear on the 'N' panel.

For more info for others (the question quotes the manual):
https://www.blender.org/manual/modeling/meshes/vertex_groups/weight_edit.html