That thread being from 2016, that's a long shot, but... Rod, did you find the reason of your problem?
I have the same exact situation here, on Office 2016 (365). A macro that used to perfectly work to replace a character: I import this macro in another file, it's not replacing anymore.
Now, like you, if I do the "replace" by end, and record it as a macro, it works, and generates exactly the same code that I use in my macro. But if I rund this code again later from my macro, it doesn't work!!
This part of the code is at the very beginning of my macro, nothing exotic precedes it. And the macro was perfectly working "as is" a few days ago..
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