I recently had to do a reinstall of my OS and I reinstalled Fences.
I had the original files in the AppData\Roaming\Stardock\Fences\Backups folder and placed the files from that folder saved from the old OS installation to the new one. The Snapshots showed up in the Fences configuration fine and I selected the most recent to restore from.
The problem is the fences when used with this restore did not show properly. The placement and sorting settings were correct, but the Fences' Labels and colors would not show at all and no changes in the settings seems to have an affect.
i.e. changing colors or hiding and enabling Labels left the Fences Label-less and colorless.
I have tried to use the purging tool from here https://forums.stardock.com/486084/fences-support-faq#reinstalling and reinstall and try multiple Snapshots. If I restore from one of the desired snapshots and then restore back to the Preinstalled Snapshot then Fences start functioning as expected and react to color changes and label setting changes.