Reporting that this bug still persists on Ubuntu 14.04 LTS as of 25 May
2014.
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https://bugs.launchpad.net/bugs/688905
Title:
Application menubar not visible in fullscreen apps under Uni
I can confirm this.
It appears that, in nautilus and files, if you navigate to a parent directory
it keeps track of the deepest directory you had navigated to. And that deepest
directory is used as working directory for the terminal that
nautilus-open-termina uses instead of the currently viewed