I can confirm this behavior and a similar behavior also shows up in the Named Symbology Manager Tools when using the Global search and replace. For instance, a Point can be placed with either a Cell or a Symbol, and even though the Symbol is toggled off, the symbology settings like the Level or Font produce 'hits' when doing a search in the Global Named Symbology Edit tool. ...you really can't 100% trust the results that you get so you have to be careful when selecting the "Match Items" for editing.
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