Hi navneethr,
let's try to sort this out. At first glance it would seem there is a problem with your Ethernet adapter. However, before jumping into conclusions would you please post the output of:
$ ifconfig
# service network status
Also please check in Administration->Services the status of both NetworkManager and Network services.
And yes, eth0 (or the name of your network adapter) *should* appear when clicking the NetworkManager icon. However, in Administration->Network window the red and green buttons are greyed out even in my well-working F14 system.
In F14, there seems to be some sort of incompatibility between motherboard-integrated network adapters and separate Ethernet cards. I'm not yet quite sure of the cause of this. However, in my F14 system two separate Ethernet cards (Internet and LAN) work well under NetworkManager's control.
BR, anttyj
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