Linking to a file in another program

[Teresa!]

I have a powerpoint presentation template that links to an excel spreadsheet
template. The program works great, except when I change the file names from
the Template name to something else, the Links still refer to the excel
template file, rather than the file with all the data that has been renamed.
How can I get the links to update to the new named file without clicking
EDIT, LINK and then updating each link, one by one, to the new file?

 

[Teresa!]

Thank you Steve, that was very helpful. However, I am now getting an error
message when I run this macro. Have you used this macro before? If so, would
you mind helping me figure out what i did wrong? thanks.