Yep a 60 is 30 each side.
It all depends on the font and the tool size A engrave (also called V carving) is meant to go down the center of the text so it can do the V.
What it shows on screen and what is cut is different the below pick is a simulation, it is shaded with visible edges

This pick is done with wire frame

The pick below is the wire frame view from the side what you can see is the engrave done with a 3 mm Vbit the first one on the left it is meant to be 2.5 mm deep the middle one is meant to be 5 mm deep 5 mm stock, they are definitely not cutting to that depth.
The last one on the right is a 1/4 inch set to cut 5 mm depth.

The top view As you can see the toolpath is down the center

now if we turn the stock on and show the text it does not go out side the letters in the simulation pick

So with the toolpath like this you cant go outside the letters.
this is with the letter's extruded

Now that I shown that. I know it's long winded But it showing you what you can do and not do.
How to get it to go out side the letters That is done by extruding the letters to a depth then useing trace and selecting the bottom of the letters I have left the text exploded it's same if it's not exploded.
This was done at 4 mm depth you can see where the tip of the tool was going file attached
