OK - I had this long post with a description of what I thought was a bug in the variable print settings arrangement. Now, I see the actual problem is the Toolhead Position report in the lower-left part of the preview screen.
I've been using the Z value reported there to determine where my process changes should take place. So do others, according to YouTube videos. The problem with doing that is that the value reported for Z is not the current layer height -- it also includes the "Retraction Vertical Lift" or z-lift. So if your layer height is .2 and you have a 2mm z-lift, your Z toolhead position after printing the first layer is reported as 2.2 instead of .2 as you might expect if S3D were reporting layer height. To be clear, S3D doesn't say that value is the current layer height - it's the "Toolhead Position". But the current layer height is exactly what you need to know to use the variable print settings with any precision.
In my opinion, the Z value shown in the Toolhead Position report should not include the final z-lift value. Or there should be a separate "Layer Height" value reported.
In the meantime, keep your z-lift setting in mind when choosing layers for your process changes.
PS - it would also be very nice to have the same visual indication of process changes in the Preview window as we do in the Wizard. Toggled setting, of course.