I draw a step using one of the standard "horizontal tear drops" and then realise I wanted a circle instead. So I head to the Tool Properties and use the drop down to change the shape to a circle, and I get an oval shape instead, because SnagIt preserves the aspect ratio of the previous object.
It works both ways. If I start with a circle and change to a teardrop I get a squashed one.
This may be a question of be careful what you wish for, because we have been banging on about remembering our last choices. Is this a consequence of that? Can we have a right click option "Reset aspect ratio" or something similar please?