I think this is what most people are having problems about.. In the default layout, there is only ONE button pointing downwards, which reverts you back to the font before you change it. But if you want the OPPOSITE effects (just like what people in this thread wants), you need to expand it horizontally so you can see the "up button" (making it so you will change the font of the master style and apply it to all texts)

@patricia Sorry for the frustration you are encountering. I just tried it using the same build (14.9.0 Build 52) and it is working for me as expected.

When you said you edit the text, what exactly did you change about it right before trying to hit the Push to Track or Master Style button?

If it's still not working, can you try these basic steps?
1. Create a new project/sequence and create one graphic with a text layer
2. Change some attributes for the text layer in the EGP (like Font, Font Size and Fill color)
3. Create a Text Style from that Text Layer
4. Change an appearance property (like fill color)
5. Look at the push (up arrow) button again, is it greyed out?

Following these simple steps, the up arrow should not be greyed out and you should be able to push the latest appearance change to the Style item in the project. Please let me know whether or not it works for you at this point.

@James S, i have done this many times in the past but today? Not working! I edit the text and go to push it to the style, but the up arrow is grayed out. Why?
(14.9.0 Build 52)

Hi Jane, you can rename your Master Style in the Project Panel. That will then also change the name in the Master Style dropdown of the Essential Graphics panel.

I have the same issue as Anonymous. I wanted to edit a Master Style. It's not that I want to edit an item that has been assigned a master style. Once I identify, say, a 48 point Helvetica style as what I'll use for "Name," I might later realize that it's not appropriate. So I want to change "Name" to something different. I want all the "Names" to be, say, Frutiger. However, I can't edit that Master Style. I have to create "Name2" or something.

Please take a look at the explanation. This is not resolved.

I just got off with Adobe Support and they confirmed that what I'm asking for is not possible.

What we would want to do is modify one of the Master Styles after it has been created instead of creating a new Master Style. That way, we could have a Title, Subtitle, and even more text on ONE text layer to keep our project layers manageable. Then, we can say "I want to adjust the font on the subtitle throughout the film" and CHANGE the subtitle Master Style. Just like in other graphics software and even Microsoft word, we should be able to create and define a style and then ALTER it as needed later.

Unless I am missing something, what you are asking for is how it already works. At a basic level, this is how it works:

1. Create a Master Text Style from an existing text layer
2. Assign that MTS to other text layers by using the Master Styles pulldown or by dragging and dropping the MTS from the Project Panel onto other Text Layers and/or whole Graphics
3. Make a style change to a layer which is a child of that MTS or a sibling

Result: The Up / Down arrows light up next to the Master Styles pulldown

4. Press down arrow to Sync from Master Style
5. Press up arrow to Push To Master Style

Results:
Down arrow: The text layer you changed is reverted to its previous appearance since that is still what the MTS item in the Project Panel looks like
Up arrow: The text layer changes you made are sent back to the MTS in the Project and to all sibling layers with that MTS assigned to it.

In this way you can change the style in one layer, press the up arrow, and it will reflect everywhere that style is used. Is that not happening for you?