I verified that the Move Note tool does not work in an activated reference. I filed a CR for this request (S-102491).
Also verified that the precision changes from elevation to linear when the computation is added. I filed a CR for this request (S-102499). I am guessing it changes to linear precision because it is technically possible to use two different objects in the formula. So the CR is to use the precision of the object if it is the only type defined in the formula.
This is being investigated as the drawing production tools are being planned for the Open Roads tools.