This is the EXACT issue i had a few days ago.. posted on this thread. http://forum.pimaxvr.com/t/just-rolled-back-to-1-1-92-and-now-both-lenses-are-showing-as-offset/1909/12
this happened to me when i tried installing 1.1.92 after already trying out the latest piplay version.. as soon as i installed 1.1.92 i got the same issues on my headset. no fix was working, BUT it only happened when i was in PIMAX (direct mode) so made me realise that it was either pimax driver or steamvr causing it..
for me to fix it i went back to the latest piplay version and then it resolved itself - you need to unplug and replug in the USB and HDMI after a reboot once new drivers went in.
still dont know what caused it but removing steamvr setting had no effect.
hope this helps?