I have engraved text that won't update properties

I have a number of small models for spacers that have engraved text on them for the PartNo and Revision.

The text is linked to the properties, I've checked.

But something strange is happening when these files are revised and checked out of PDM.  The "Revision" property has been updated but the linked text on the engraved part won't update.  It stays at the old rev and no matter how many times I "regen" it.

But what is even more weird is that if I open the "File Properties" dialog (like above), when I leave it, the model will successfully "regen".

Does anyone understand what is happening here?

Thanks,

Pete

SolidworksParts And Features