Thanks for reading my old review of this headset and for replying. I don't usually answer tech support-style questions since I'm just a reviewer and not the manufacturer, and as such I make nothing for doing this other than a loss of my time--but yesterday was Christmas so what the heck.
1. Yes, the power light turns off after a few seconds. However, the headset will still play back audio, and the volume adjustment will still work, so you could always just toggle the volume wheel up and down to see if the headset is still connected and you should see the volume control pop up in Windows.
I think with the auto-shut off function for power savings, and the assumption that most people would turn the headset on and then just use it as opposed to putting it down and needing to know if it was still on, Logitech figured that it would be safe for it to work this way.
2. The sidetone setting is in G-hub, alongside a bunch of EQ options. Here are some screenshots I took seconds ago. EDIT: Well, it seems Medium doesn’t properly allow for screenshots in replies any more and that these may not display to you. The instructions still stand!
First, open G-hub. You'll see a list of your devices:
Next, click on the G535. That opens a new set of options. Click the headphone icon on the left to open all the settings. In the left column you'll find the sidetone volume and on the right you'll find the EQ. If you tick the "advanced EQ" box, it'll enable additional EQ frequencies.
If you're not seeing any of this stuff I don't know what to say, and you'll have to get in touch with Logitech support--but they'll probably just give you a boilerplate answer, and I'm guessing they're out of the office till the new year. Maybe your window is scaled super small and you need to stretch it larger to draw all the settings choices? No idea honestly!
Have a good one!