Now that we have icons in the admin menu, it strikes me that we could use the "Configure" icon instead of a button that spells out the full word. For example, on the Manage Display pages, a view such as this (admittedly only this many fields are likely to have a "Configure" option if you are using field_formatter_settings but it makes the point):

With a little modification (CSS only) we could have something more like this:

If people agree I can make a PR for Seven that would do this.
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Thanks, bugfolder! (if only I had added another page before panicking)
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This issue just got fixed in core code: https://github.com/backdrop/backdrop-issues/issues/7060 You can apply the patch from this PR to your installation: https://github.com/...
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There was a Layout Paragraphs update recently in the Backdrop news feed.
Layout Paragraphs?