no, both of them don't line up horizontally with the bracelet but they are both at a 11'clock angle i guess. I have the old screw system if that makes any difference. Mine is on as tight as it will go without putting every mighty effort you get into it. i check it now and then and it doesn't move or anything.
I'm a bit scared to tighten the screws too much coz I'm afraid it might chip away the screw's and the hole's current markings and stress too much on the connecting points. (just thinking similar to drilling into preset holes with screws, too tight might make the screw/hole not work well all together)
I noticed that the other day its funny that they didn't make it so they line up,even though it doesn't really matter. I have the new system and mine doesn't line up. Both screws are at the same position though, at about 11:25 on a clock.