Hi stobonet, thanks for getting back to me. 

I appreciate you checking this over with colleagues. I am able to use the 'Update price in recurring templates, too' function as expected on my UK test system, so appreciate the confusion being caused. 

This feature is relatively new (released around a year ago) and so may not work for any recurring templates or stock items that were created prior to this. Apologies that this doesn't offer any firm explanation or easy workaround. 

If you would like to submit any feedback to our product team on this, please do so via the Cog > Feedback in QuickBooks. Thanks!