Actually there are things that can be done but it is the apps that must take steps to correct the problem.
There was some discussion over on the Plex forums about this and, after some debate, the developer for the Plex Roku app added an overscan compensation in the settings menu.
I do not have the problem but the users that did have reported that it works.
Now, having said that, it does not help those that are having the problem in other apps or in the menus. If the TV they are using does not have the ability to correct the overscan then the only option is to change the TV or change the streaming box to one that does have overscan abilities like the Fire TV or the Shield. Those are the only two that I know for sure can do it but, most probably, there are others.
If it can be done on the Shield and it can be done on the Fire and it can be done on the Roku inside apps then, clearly, it can be done on the Roku at the OS level. But Roku programmers are either not willing to do it or not able to do it or have been directed not to do it.
The lack of an overscan adjustment in the Roku is just another example of the lack of quality in Roku's customer care system. Sure it is only a minority of folks that have TVs that need the adjustment BUT, after he was convinced it was needed, it took the Plex developer less that three hours to release a test version that worked correctly. Roku should provide an overscan adjustment in the settings but they probably will not because they do not care about the minority.
Two Roku Ultras, three Roku 3s and a Roku 1
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