Respectfully, it does NOT allow you to change style attributes for multiples, it allows you to define a Master Style and then you need to click on EACH title instance and define/redefine the Master Style for each instance. Not helpful as I use titles on nearly every clip in a sequence.

I can easily apply a preset effect to multiple items in a sequence, why do Master Styles work differently? How come there is no "editor" or "library" for the Master Style?
This is a huge hole in the workflow and very inconsistent behavior across the UI. If you're not going to fix this, can you please at least expose Master Styles in CEP so I can build a programmatic approach to this?
Or should I go back to using individual title instances (legacy titles) or use After Effects, Photoshop, Illustrator, InDesign or one of the other workarounds?

Master Text Styles lets you change style attributes (including Font) for multiple Layers and/or graphics at once. Here is a tutorial:

http://www.premierebro.com/premiere-in-post/adobemasters-how-to-sync-text-layer-styles-in-adobe-premiere-pro