Ultimately, I had two problems and didn't realize it.
- My AVD was bad (which caused my menu to have strange gaps in it - as pictured above). Once I deleted the AVD and built a new one, I was able to see some menu items - although the "Save" button still wouldn't re-draw
- There was a timing issue between when InvalidateOptionsMenu was trying to execute and when my ViewPager was trying to draw itself and send its own Invalidate calls.
This link led me to the right answer:
https://code.google.com/p/android/issues/detail?id=29472
Particularly comments #8 and #20