1) The tools option is a setting per PC workstation. So, for each machine you want to reconfigure, you'll need to make the change. There is a means by which you can export settings to a file and then import them on any workstation. We use that in our company so that, when a new machine is deployed, we can easily configure all appropriate settings. See https://support.smartbear.com/testcomplete/docs/reference/options/exporting-user-settings.html
2) In your screenshot, you have a Button object mapped with the Extended Find flag checked. Let's say you want to uncheck that flag. The assumption with that flag is that there may exist objects between TemplateDialog and Button. The flag tells TestComplete to search the descendent tree of TemplateDialog to find Button, bypassing potentially "unnecessary" intermediate objects. So, if you uncheck that flag, you will need to map all those objects from TemplateDialog to Button and then drag Button to the appropriate child position in that hierarchy.