sure ... and this is using the default aero theme

(edit: sorry it is the horizontal alignment that is off due to vertical icon spacing when comparing an area using fences and an area that is not using fences; and again changing the icon spacing only works for that session, then it needs to be changed again)

I figured that there were different grids - but how does one change the fence grid to match the desktop's grid?

I tried changing the desktop's grid spacing (icon vertical space), but upon reboot the spacing reappeared.

It seems that fences does take into consideration the desktop grid and makes changes accordingly, but these changes are not matching.

edit: changing the icon spacing (vertical space) parameter (in the 'Window Color and Appearance' setting) does immediately change the vertical spacing in the fence area, BUT does not impact the non fence area. The non fence area seems to take it's spacing from the fence area as that a reboot/logoff changes the non-fence area's spacing in relation to but not in align with the fence area.

so either change the way that the non fence area icons relate with the vertical icon setting (for windows 7) OR provide a setting option to set the vertical icon spacing in a non fence area

btw ... this problem is not apparent in XP