In a recent discussion with Ubuntu developers, it seems that Netflix will soon work natively on Ubuntu 14.04 LTS in the Google Chrome browser.
This has become possible because of the development of the HTML5 player.
The only prerequisite is for the NSS security package to be upgraded to at least version 3.17. This is planned to occur in the next couple of weeks as a standard security enhancement.
At the moment it is possible to watch Netflix on Linux, but only if you adjust the User-Agent string in Google Chrome.
Update 23rd September 2014
I can now confirm that the NSS package has been updated to version 3.17 and that Netflix is now working in Google Chrome.