I have asked a question about this on Stack Overflow. I don't know how to get Inno Setup to place the new icon in the same fence panel during upgrades. I find it gets removed and then is added to the desktop again but not in the panel where I had it.
Is there are settings we can look in during install to know that:
1. Fences is in operation
2. Which Fence the icon was in
This might not be possible.