No.
The indicator probably slipped in one back, or some bit is bend a bit more in one back than in the other.
This thing is not linked in any way to the transport and/or spacing mechanism.
It is operated by a spring loaded feeler that pushes against the bright metal bit that pushes against the roll of film on the feed side of the insert.
Operation of the film back is not affected by it in any way, so no worries about frame spacing.
It's use is very limited: you can only see whether the film is indeed moving from one spool to the other by seeing if the amount of red that shows changes. It will not tell you how much is still on the roll, nothing about frame spacing, or anything like that. For that, you need the frame counter.
So even though it is not hard to adjust (if you know how), and it doesn't take much time to do so, it's not worth the bother.