After searching the existing Support Documentation, I couldn't find any mention of this minor bug, so I'm posting it here. When an existing hub variable, which is already referenced in one or more 5.x rules, is renamed, the reference to that variable, as displayed in the rules, continues to make use of the prior hub variable name. This behavior persists upon rebooting. It seems to me that it would be cleaner design for all references to the hub variables as used by rules to change to the current name.
In short, the hub variable rename function seems to be lacking the code needed to globally swap out the prior name.
Interestingly, if one tries to change the variable reference from within the edit function of the rule, the drop-down list shows only the prior hub variable name and not the current name.