In goContacts press edit button -> contacts account, check if your facebook account is selected here.

Can you view your facebook contacts in the default contacts app??

 

Ok I checked my contacts again thoroughly and discovered that in my goContacts app also the facebook contacts are not being displayed.
Sorry I didn't notice before because of too many accounts in my contacts.

Looks like it's a universal issue.
I have reported the issue to the goContacts team, I would ask you to do the same.
Let's hope they release an update soon.

 

It's not just goContacts that won't display Facebook contacts, I've tried a number of other dialer/contacts apps and they all have the same problem.

 

OK it makes more sense now.
A similar issue is with third party SMS applications not displaying contact photos. Looks like post ICS update some contacts API has been majorly altered. We will have to wait till the app developers can fix this issue.

Just so that the developers take notice of the issue, I request all users to report the problem to them via the app or via mail.