Backup to disk set to OPP 0 and APP 0 but backup still retains 2 days data

Dear Community,

I am not sure if this is a bug or not.

Scenario:

My backup (Backup vm daily) is set to backup to disk with an OPP and APP of 0 and then upon job completion, it is duplicated to tape.

Problem:

I am still able to see  my VM which is backed up 2 days ago. Why is that so? If my understanding is correct, I should only be able to see data which is backed up the previous day only.

This has been an ongoing problem all along but lately, my storage is out of space hence i have decided to post the issue here. Did I mis-configure or is this a bug or?

Advice appreciated please. 

I have attached the logs and my backup exec version is 2010 R3

Happy new year!