Macro recorder doesn't always record all user actions. Try following logic:
1. Select the drawing view and get notes using IView::GetNotes method. It will return array of notes.
2. Run the loop though the note array and check if the note is a Balloon or not using INote::IsBomBalloon.
3. If yes, get the linked property text using INote::PropertyLinkedText property. If the string matches to your old liked property then replace it by setting the value to your new property again using INote::PropertyLinkedText.
You will have to do some string manipulations to get the result you want. I haven't tried the codes but I think it should work.
Hope it helps you.
With a balloon selected, try these codes
Dim swApp As SldWorks.SldWorks
Dim swModel As SldWorks.ModelDoc2
Dim swSelMgr As SldWorks.SelectionMgr
Dim swNote As SldWorks.Note
Dim swAnn As SldWorks.Annotation
Dim bRet As Boolean
Set swApp = Application.SldWorks
Set swModel = swApp.ActiveDoc
Set swSelMgr = swModel.SelectionManager
Set swNote = swSelMgr.GetSelectedObject6(1, -1)
Set swAnn = swNote.GetAnnotation
bRet = swNote.SetBomBalloonText(swNote.GetBomBalloonTextStyle(True), "$PRPMODEL:" + Chr(34) + "Description" + Chr(34), swNote.GetBomBalloonTextStyle(False), swNote.GetBomBalloonText(False))
Thanks a lot Deepak.