Have you thought instead of going into your drawing properties and, on the custom tab, creating one with a Name of ReviewStatus or some such thing, and a value of Preliminary, or Revision 1 etc? Then you could create a piece of MText and in it put a field that "calls" that value. Then, when you go back into your Drawing Properties and change that value, a regen will update all copies of that piece of MText throughout your drawing.
I hope my info was useful, but if by some odd chance it actually solved your issue, feel free to mark your post as "Accept as Solution". Thanks! 🙂