You can update a favorite to change its formatting.
-
Select a dimension you have formatted using a favorite and click the dimension palette icon
to open the dimension palette.
If you don't know the name of the favorite used, expand the
Favorite List 
and mouse over the favorites on the
Saved tab to display favorite details to help you identify it.
- Change the dimension formatting.
- Click Save Favorite
.
- In the Save Favorite dialog box, select the name of the favorite to overwrite and click OK.
- When prompted that the favorite already exists, click Yes to confirm that you want to overwrite it.