yes, i think you are missing something. If you use the Issue Manager then you can correct all the title blocks from the issue manager. the issue manager allows you to add an issue note to all the drawings at the same time as well.
as for the font size and style, these are set in the symbol. if you want to change the font, change it in the symbol. But if you are in an office, surely you should be having the title blocks consistent, so you want everyone to use the same title block...
If you have access to my Architect Tutorial there is a section there on how to make your own custom title block and then make it issue manager friendly.