If you disable fences in the settings, all visible icons of a portal are still on the desktop and clickable/openable (only if they have been visible while deactivating Fences). Like if they are now actually placed onto the dekstop, But if you go to the desktop with the win explorer. You will only see the actuall deskop icons. Refreshing does not help.
If you delete one of those still visible portal icons (while fences is deactivated), you delete the actuall file.
I can still scroll in the area where all portal icons are (it contained more icons than it could display), like the fence still exists. Even though Fences is currently deactivated. The process is also not running in the background.
I have not done a full reinstall, but I will do it now.
EDIT: Now I fully reinstalled it. Still the same problems with portals and those two features seem to be gone. I may can exclude an whole fence from quick hide, but not single icons like it was possible with Fences 1.
The Problem with the portals are not a big deal for me, I will never deactive Fences anyway. Just did it once now to deinstall it 
EDIt²: I use win7 64bit.