"Chat Highlight Settings" notification circle instead appears on "Chat settings" for any channel but your own
A recent update (this week?) added a pink notification circle to the "Chat Highlight Settings".
Since that button does not appear on other channels than your own, the notification circle is instead added to "Chat Settings", which does not make any sense since there is nothing new under there.
So any user who does not stream will have to know to go onto their own channel in order to dismiss the notification circle.

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BorkwareMarkD commented
omg thank you so much. I would not have thought of looking for that setting in my streamer page. Easily one of the more sadistic UIs I've seen.
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BorkwareMarkD commented
There's a throbbing red dot next to the gear icon by the Chat button that is really distracting - I have no idea what it is for, or how to turn it off. It'd be nice to know what the red dot badge is for and how to turn it off.