Confirmed for me, as well. Hardy Alpha 4 with all updates as of time of posting.
$ which nvidia-settings /usr/bin/nvidia-settings
Changing the launcher properties from __UTILS_PATH__/nvidia-settings to /usr/bin/nvidia-settings fixes the menu item.
Confirmed for me, as well. Hardy Alpha 4 with all updates as of time of posting.
$ which nvidia-settings bin/nvidia- settings
/usr/
Changing the launcher properties from __UTILS_ PATH__/ nvidia- settings to /usr/bin/ nvidia- settings fixes the menu item.