Unable to add timelines in the new Bluprint components for 4.7?

Hello, I seem to be unable to add Timelines in either Scene components or Actor components. Is this intentional? This is the new feature added in 4.7.

Same here. The context menu option that is shown in documentation is no longer there. Where is this functionality now?

You cannot add timelines in actor or scene components for the time being.
In the meantime, you can do something like this - Use a Timeline node in your Root Actor and send the update pin and out value to your actor component via a custom event (And any other relevant information that you want to transmit).

If you really want a component with a timeline, you can create an actor class blueprint then use the Child Actor component.