PLANTMO is a third party add-on from ECE. You can't really claim Cadworx has something if intergraph doesn't actually code and release it with the software. By that standard you can claim this for just about ALL software. For example, you could say Plant 3D has all the features that acplant has created, but you don't get those out of the box.
You can update tags in ortho drawings, Ortho View > Annotation > Update Annotation, but not dimensions.
With the Orthographic dwg open, as I said above, in the Ortho View ribbon go to Annotation panel, there is a command that says Ortho Annotate, if you click on the down arrow, it will run update Annotation. Also, if you right click on each drawing, in the pull down menu there is an option to Update Annotation. I don't believe there is a global option for this, so you will have to right click each dwg in Project Manager.