AFE4404EVM: IR LED (LED 3) Saturates for OSRAM SFH7050 Sensor Module even on currents as low as 3.2mA

I am evaluating OSRAM SFH7050 Sensor Module using AFE4404 evaluation kit and EVM GUI.

I installed the resistors R1, R3, R5, R7, and R9 on the supplied sensor board to activate the OSRAM SFH7050 Sensor Module

I have set the following values to get the PPG signal using only green led.

LED1 current = 30.4mA
Cf x Rf = 2.5pF x 250K
LED1 OFFDAC Current = -1.5uA
PRF = 100Hz
Duty Cycle = 1%
Average = 8

The waveform I obtained is given below

But when I turned on IR LED (LED 3), its waveform saturates even on 3.2mA. I also subtracted an OFFDAC Current to IR LED, but there was no change in the waveform.
It also added some noise to LED1 waveform and reduce the overall amplitude of LED1 as well. Obtained waveform is attached below.

Please suggest how can I stop the ADC from Saturation while using the IR LED?

Also under "Channels to Save", while saving the Waveform data from the GUI what does "LED 2 AMBIENT/LED 3" mean? 

Thank you for reading.