There's a new feature in the Beta environment right now (see Canvas Beta Release Notes (2018-01-15) ) for the New Gradebook where teachers can use an "Enter grades as..." option in the menu for a grade column to change how that column's grade are displayed in the gradebook (i.e. points, percentage, etc.).
It seems like "Display Grade as" is a global setting that applies to students, while "Enter grade as" is a personal setting that applies to instructors. But it seems like an opportunity for confusion if the instructor changes the "Enter grades as" setting and then forgets they made a change.
I think there should be a way for an instructor to easily identify if they are seeing grades differently than students are. One idea is the "Enter grades as" menu could indicate which option is the "default", in addition to which one is currently selected. This could be as simple as adding "(default)" after the option which was chosen in the "Display Grade as" setting.