This menu is still at the place you wrote in 6.1.5 (Edit -> Component Display, 5th entry from the end) !
Be sure that your design is open in editable mode and that you are in schematic editor.
If you have ADE XL license, try it (but it would be petty from Cadence...).
It works with IC 6.1.5-64b in virtuoso L editing.
Perhaps your PDK overwrite some menu information ? Check any warning or error in CIW...
*WARNING* (icLic-3) Could not get license Virtuoso_Schematic_Editor_L
*WARNING* (icLic-21) License Virtuoso_Schematic_Editor_L ("95100") is not available to run Schematics L.
Trying to check out the license Virtuoso_Schematic_Editor_XL ("95115") instead.
*INFO* (icLic-25) License Virtuoso_Schematic_Editor_XL ("95115") was used to run Schematics L.
Please suggest me the way to get back Component Display parameter .