Two monitors. Primary 1920x1080, Secondary to the right of Primary at 1680x1050.
Setting wallpaper on secondary monitor to something different than primary is overridden when Fences starts. It sets secondary wallpaper to the same image and settings as on primary.
The wallpaper stays correct on boot until Fences is started, and likewise reverts to my settings when Fences is closed when rebooting.
As far as icons are concerned, I only have icons on my primary monitor, and if starting a low resolution games those are moved up to fit into the lower resolution display. Once reverting to original resolution those icons are not moved back, presumably because Fences only handles resolution specific positioning for fences, not individual icons. The annoying bit is that when I then ask Ultramon to reset my icon positions, it'll handle those stray icons just fine, but then Fences (can't think of what else it might be) undoes Ultramon's changes the second I click the desktop. The end effect is I have to reposition those icons manually to get back to how it was.