When I have "hide ignored tags" enabled, it hides all questions on the active page. It does not do this when I am on other question lists.
I tried deactivating the option, and it showed the page correctly, with the correct questions grayed out (and there were plenty of questions not grayed out).
I am using Chrome 30.0.1599.114 on Ubuntu 13.10, and I use the extension that shows favorites even if the question also has an ignored tag (but I tried disabling the extension and that did not fix this).
Edit: I just noticed that it is only on the "active" tab of the front page this happens, not if I select the "active" tab under questions.