No, no, I've been looking at things harder.
I don't see anything wrong with your settings or your image.
After looking more closely at some other skins I've decided the Show Desktop button isn't showing at all in its normal state either. Many times there is an area on the taskbar itself which kind of looks like a button, and such is the case with Acrylic 7. We're not seeing the button, we're seeing the taskbar, then when we mouse over it the entire area becomes transparent.
Lantana for example has a smooth end on the taskbar, and a ShowDesk button with a visible normal state. and it's just not there.
I think for now you'll just have to wait for them to get that fixed. I get the impression no one, including myself, has noticed.