On this answer, status-review is mentioned. For whatever reason, the tag appeared as blue instead of red. I've also noticed that it does not appear on this post for some reason. I thought that editing the post after the tag became moderator-only might turn it back to red, which is why I proposed a minor edit to the post. Sure enough, it changed to red when it was approved, but inactive posts that aren't edited could keep the blue tag indefinitely.
1 Answer
Yes, an edit will fix that.
This is because posts are stored as HTML. At the time the answer was submitted the build wasn't live. Therefor the tag wasn't a mod-only tag yet. It got no special handling. An edit will re-render the HTML and store a new version of the HTML. As the tag has now become mod-only it will render as red.