The Destruction Catalyst, like pretty much all the other items that have a material cost, now stores its charge internally, rather than drawing from your inventory when you use it. You need to sneak-right-click while holding it to "activate" it, and it will begin absorbing the necessary item from your inventory, and filling up its internal storage. There's a HUD now that shows you how much it's holding, and you can also see its stored charge by holding shift and pointing at it in your inventory.
In creative, it doesn't require charge. However, it looks like there's a bug where it takes charge anyway, meaning it can go negative.