Maybe I miss something, but after updating to version 1.79 (from 1.78) the option for setting the icon offset in the hierarchy has vanished from the project settings window in the AC prefs.
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Oops - sorry, small bug there.
The Show icons? field above it has been switched from a Toggle to a PopUp. The offset field is getting hidden if this is set to All - wheras it should be it set to None.
The effects of it are still felt, however. Switch to None, set the offset value, and then set back to All.
Xes, works like you said. Thank you!