I wanted to know if it was a big deal that the replacement ring was screwed to the floor but the drain pipe flange was above the ring about a quarter of and inch maybe a little less, with the wax ring installed it shouldn't matter right?

It does matter. Let me explain why. The repair ring is screwed to the floor,, that means the toilet moves with the floor. Now the waste stack and the original flange isn't attached to the floor and doesn't flex. The wax ring will seal... for a little while, eventually its going to fail and you will have a leak and a lot of potiential damage.

The toilet should be bolted effectively to the waste stack so there is no separate movement to break the seal. I'd repair the flange the correct way. Yeah its more work and cost more money... but its essentually a permanent fix rather than a temporary patch.

I had to replace the flange on mine when I remodled my bathroom because of a damaged flange. Didn't want any problems down the road, I planned on being in this house long enough for it to matter.

Just because a product is sold... doesn't mean it's a good product to use.