The radio has a dual display. The top is for Tx and Rx. The bottom display for Rx only.
Indication of offset will not be seen in the bottom display (it's not going to transmit anyway. Why should it be there. It is listening on the frequency you see whether it's in VFO or memory mode. It does not know an offset... it only knows the frequency shown).
The top and bottom displays CANNOT be set to the same band. This is true for VFO/Memory: Memory/VFO: Memory/Memory: or VFO/VFO operations or for Satellite operations.
Here is a complete help file for the programmer. It explains many things about the radio.
IC-9700 Programmer Help
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