Hi Chris,
Sorry for the inconvenience caused at your end.
Per your description, we understand your concerns i.e. whenever you convert the Word document with Track Changes to the PDF, it will show up the All Markup even though Simple Markup. First, we would like to apologize to say that we couldn’t test exactly with a similar scenario as yours because we don’t have the third-party tool (Adobe Online).
Since we can either use the feature Save As or Export to convert the Word document into the PDF, we tried at our end and experienced a similar behavior where converting the Word document to PDF will display as All Markup view with all highlighted with text.
So, based on your test and your requirement, since you want to convert the Word document with a Simple Markup, you can set the Insertions and Deletions to none in the Advanced Track Changes Options during the time of conversion.
But I couldn’t find a way to make balloons disappear even after making the Balloons option to Nothing and sorry for that. During my search, the only option is to make No Markup, but it will not show the left lines which indicate change occurred to the line.
Moreover, we would also like to invite the Word experts in this community to share their ideas and views regarding your concern.
Lastly, about the “Show lines connecting to text” will be grayed out when the Balloons in All Markup view show option is set to Nothing.
Appreciate your understanding and patience.
Best Regards,
Chitrahaas