How can I configure an OBD ELM327 cable to work with an ICS tablet?
I have the kyocera event that also runs Ice Cream Sandwich and in turn is rooted... ...using kernel tuner(very old version) I saw it as well and tired it myself, it did work for about a minute then a portion of the system went bad and restarted. After it restarted the option was no longer visible in the app. In conclusion the option is there but full OTG  support is not. If you still want the support for OTG it may be best to flash a custom kernel.