When opening an annotation feature class, whether standard or feature-linked, that has 10.1 functionality (i.e., Python is used as the scripting language), the annotation class appears as a polygon feature class in the property page.
This is due to a bug in the way that ArcGIS 10.0 SP3 and earlier service packs of 10.0 filter 10.1 content. The feature class should be blocked from opening with these 10.0 service packs.
Get help from ArcGIS experts
Download the Esri Support App