Sure thing, I think I may have figured it out after playing with it some more. If I copy and paste from parent into child graph then the event never fires on my child and it behaves the same as parent. In this case I am moving the object on overlap either in the Z plane or X plane for purposes of testing. If I create the overlap event node fresh in the child graph then it behaves as expected and translates properly along the Z axis.
Screenshots attached showing what the two graphs look like if I copy and paste the nodes from parent to child and then simply change the vector offset. This does not seem to work.