Hi, I'm using version v3.4.3 on Windows and using the shortcut option:

My understanding is that with this option all of the files will be moved to one folder with the albums in separate folders as links. But that doesn't seem to be the case.

In some cases, the files are still in separate folders. Example below, where there's folder for 2013/7 album and then separate folders under "ALL PHOTOS," both of which have original files.

Here's an example where some of the files are now links in the album folder, but then you have a few files that are duplicate under both album folder and "ALL PHOTOS" folder. I have one of the duplicate files highlighted here:

In other cases it seems to work. See below where the folder for album on the left have links instead:

It just seemed to be so random which version of those three I'll get.