Snapshot not honoring "maximum number of local archives"

Snapshot is not honoring the setting for max number of local archives. We have Snapshot installed on a half dozen clients' websites on three hosting platforms: Pair Networks Shared, GoDaddy Shared, and Rackspace Cloudsites. In all cases the Snapshot dashboard shows the correct number of backups (we've set it to 1), but when we check the backup folder via ftp, it's keeping them all, using way too much storage.

We like the promise of Snapshot, but this was a very unwelcome discovery in practice. Any guidance you can provide would be helpful.

Thanks,

Mark | Sund + Co | Original Websites and Web Apps