GpgOL for Outlook 2003 and 2007 had it's option under the Addin Options of Outlooks preferences menu.

GpgOL for Outlook 2010 and later only uses the corner button in the Ribbion, which is the "modern" way to show the options. Some users found that irritating and we got the wish to also show the Options under Addin Options.

Should be looked into.