It was actually updating of the settings(sort order, etc) as well as the text itself. Neither seemed to work. Although, I just tested it this morning and it seems to be working now.....
However, the edit page dropdown list does label all of the text/HTML sections as "Custom HTML field." This isn't a large issue, but it could get quite annoying if multiple text/HTML sections were needed. I know the ddl is populated with question field and the text/HTML field does not have this attribute, thus the necessity for the "Custom HTML field" signifier. However, I would think it would be much more intuitive for users if the short name field was used to populate the ddl, at least in the case of the text/HTML fields. Just a suggestion.