Replace media will update the media but the file name does not update in the project panel.
For Example, If I have an image seq called, Comp01.Exrs
"replace media" with Comp03.Exrs.
After Effects loads in the new media but the file is still called Comp01.Exrs in the project panel and timeline, but is linked to Comp03.Exrs. This only happens with Exrs and .mov files.
Anyone seen this before? We have to reveal in finder to determine what version is in the project.
I wonder if that's a new "feature".
I've noticed this in the last project I did as well but it wasn't a big deal for me since I wasn't versioning. But if you go back a few Revs of AE (I've tested all the way back to CS5.5) this doesn't happen, and the layer in the timeline and in the project panel updates its name when the footage is replaced.
Of course this update won't happen at all if you have the timeline set to layer name and you have changed the name of the layer for better identification. I've been handling the lack up of update in the replaced footage name by changing the name of the layer so that future generations know what I did. But it still should update in the project panel.
I've been finding I've been saying "should" a lot more since AE 2018. But of course to no effect. Adobe's work on making icons too small to hit with a mouse is very taxing and at the bleeding edge of science so there is very little money left for fixing these kinds of "inconsequential issues".