View ALL is checked?
That is not a setting in the plugin.
If you look at the plugin settings page (SETTINGS/HIDE TOOLBAR OPTIONS) you will see that there are 2 sections with several check boxes for each.
The first is to HIDE for all logged in users on the front end. To hide it, that MUST be checked. then, if you decide you want to show it for some capabilities, you can check all appropriate to hide ONLY FOR those levels. Anything unchecked, like admin, will still see the toolbar on the front end.
The second is to hide the “show toolbar” option in the user profile page. Again, that also has check boxes under it to select only the levels you want to hide it for. Anything unchecked will still see the option.
Then remember to save the settings.
The plugin works with 3.4.2, I personally have it installed on over 50+ WordPress sites all using 3.4.2 (with differing server settings) and it works right out of the gate on all of them.
Let me know if you still have problems so we can try to resolve the issue.
Warm regards,
Don