New article will not replicate to subscriber

I have a very strange problem.

I have an existing publisher/subscription, which is working perfectly.  We added a new article using the SSMS 2012 GUI to the publication, ran snapshot agent, which shows it successfully generated the single article.  I see the snapshot files in the replication directory on the file system.

However, it will not create the new table on the subscriber.   It does not show any errors in the logs and replication is continuing from other tables normally.  I see the commands for the init of the new article in sp_browsereplcmds.

If I add a tracer token it goes in 4 seconds.

Unfortunately, this is a large Production subscription, so I would rather not reinit the entire subscription if I can help it.

Any ideas?

Publisher:  Microsoft SQL Server 2012 (SP1) - 11.0.3412.0 (X64)

Subscriber: Microsoft SQL Server 2008 R2 (SP2) - 10.50.4000.0 (X64)