Do you got pro or the ordinary version? Anyway i got the ordinary version so i looked around to try and find the setting you mentioned here. All i found was:
Contact with Zone Labs:
Hide my IP address when applicable
Is this the "hide my full IP address" your talking about? Anyway if it is it only works when contacting Zone Labs you see. And i believe it is this simply because you cant hide your IP address. If you could surfing would be rather boring, you would get loads of "cant establish connection" pages. Why?
This is a rather technical thing actually. So ill do the quick and easy explanation which only concerns IP instead of the whole machinery involved. IP is part of what is called a TCP/IP suite. This has got to do with how data is transfered, how computers can communicate. How can you eg connect to a web page? You dont connect to a web page, you connect to the server launcing the web page. This is controlled by the TCP/IP suite, which consists of several protocols that play their own unique role when communicating with another machine and IP is one of these protocols. The IP (Internet Protocol) controls packet delivery and is therefor the heart of the communication, it makes sure data can be transfered. So IP is much more than an address, its a packet. It consists of several parts among these a source address and a target address which both are needed to communicate with another machine. Therefore you cannot hide you IP. The computers need to know who each other is in order to find each other and to communicate in a huge mass of other computers. See?
And to your other question, just because a hacker would get your ip address doesnt mean he can get in. Why cant they nessecarily get in? Look
here
So if you wanna "hide" it, you will need to route your connection using a proxy.
