Currently, an isolated footing that is cut in plan view still displays as projection. So, a 30' deep caisson (at level 1), next to a basement wall still displays as projection, rather than displaying as cut. A work-around is to add a wall, join the caisson to the wall, then delete the wall. The caisson will remain displaying as cut in all views.
Personally, I think this is a bug, but I'm told by support that this would be an enhancement and needs votes before it will get any attention.