It looks like hot spots get shifted upwards when a card is visible, even when the corresponding watch item is set to keep it's position. Either that or hot spots just don't work when cards are visible.
Last report went away, but I am having the same issue.
Not sure if it is because of them shifting up (moto360), or what - but tap zones do nothing for me 99.9% of the time, and with the latest update even the one that Did work sometimes (Pascual) no longer does. I've gone ahead and switched back to a watch face without it since this doesn't seem to be a wide spread issue. I have no idea how this is working for some. Even performed a reset on my watch.