WP Sheet Editor only counts the parent products as rows, so even if you click on “display variations” the rows count will be the same. If you need to know how many variations are there on your database, you can simply export your entire database into a CSV file with our plugin, and then subtract the count number from the spreadsheet, for example:
You see 400 in the product count, but when you export your CSV file you have 1200 rows, you do 1200-400=800. That’s your total variations count.