I believe, we have bug with ‘Centralized Robot Settings’ (configure the logging level) in 2018.1.2. Behavior on Client side (Robot / Studio) seems to be different than expected. When we enable Trace logging, I don’t see any Trace logs. And when we enable Verbose logging, Trace logs are shown but not Verbose logs.
In all cases, logging level shown on client (System Tray → Settings → show Logging level as Information)