So, I added a new tag by searching on "Isle of Wight". At first I thought it wasn't working until I realised a new "Newport" tag had been added. OK, so I now rename it to "Isle of Wight".
However, when I save the tags to the file it still says "Newport". Firstly, that's not the tag I want saved. Secondly, I can see a potential future issue if I have to start again with an upgraded Elements or some such.
Am I missing something or is the rename function little more than a cosmetic effect?
Yes you are correct. Only the original map location gets embedded. This is often the main administrative district or in some countries the main police station!
But you can use Isle of Wight for search purposes in All Media. Typing the term in the search box should bring up the location tag and similar key words.
I'm sure there are reasons to do it that way. Shame though. In cases such as this Newport is too specific and plain incorrect. I drove through it after getting off the ferry, but certainly didn't stop to take any pictures.
Ah well, I shall continue to use the Place Tags alongside my own places hierarchy in the general Keywords section.