I created an icon indicator to show earth shield on my party frames. When I go into raid frames I don't want the icon to be the same size. I assume I don't have to make another indicator just to have a smaller size. I would just change my raid theme default icon size to be smaller but that doesn't change the icon size.

You have to change the indicator icon size, and select "Default", then the indicator will use the size defined in each theme.

awesome thanks!

Update to 2.3.11-beta

is there a way to make the stack text scale with profile as well?

Try out 2.3.10 version.
In this version a percent value (calculated as a percent of the icon size) can be set for the stack font size option:

• Move the stacks font size slider to the left (zero value) to switch to percent mode.
• Another posibility is to type a number between 0 and 1 in the edit box below the slider. for example 0.3 means 30%.

Does this work on indicator:icons or just indicator:icon? I was able to add the percent for my single icon but not for my icons indicator for raid debuffs.