The default 'New Opportunity' action is available on the contact and account page layouts but it does not appear when clicking on the plus sign when viewing a contact or account record in SF1. It also doesn't appear in the Chatter feed actions. Any insight in to why this is the case? I thought it might be object access permissions, etc. but the org. I tested it has 'System. Admin' profile with full access to all objects. 

Default actions referenced here:
https://help.salesforce.com/HTViewHelpDoc?id=default_actions_overview.htm&language=en_US#default_actions_overview

Thanks!