I think I know what is going on. (Had the same problem.)
All change markers remain visible on views. The "show markers on latest revision" refers to layouts. Previous markers will appear on a layout until that layout is added to a new issue. That confused me at first. Try this: Create changes and add change markers as needed. Create new issue. In the LAYOUT BOOK, make sure that the correct changes are attached to the right layouts. In the BOOK SETTINGS, make sure that the layout is included in the current issue. (This is what I had missed.) Finally, update the layouts in DRAWING MANAGER. After that, the previous change markers should disappear from the layout. Layouts not included in the current issue will still show the previous change markers. The entire history of change markers will visible in the view.
Is this how other people understand it to work?