When I format the label in the upper left corner of the sheet of labels and press Update Labels, the changes do not propagate to the other labels. Even something as simple as bolding the name does not propagate. I have Googled and cannot find a reason, even thought I've followed the proper steps. Any suggestions of what to check? Thanks.

When I click on Update Labels, the label I just formatted also resets to its original formatting and any changes I made are gone. So in addition to not propagating, it undoes any format changes I made. Hope that additional info helps.