Change symbol properties en masse

Ever been frustrated that you couldn't change the properties for multiple ArcMap text or graphic elements at once? That only after converting all labels to annotation and moving a dozen you realize the leader gap is too small, or they should be right justified? That with one element selected, r-click > properties, brings up a symbol properties dialogue but with multiple objects selected r-click > properties only data frame properties?

Turns out the solution is easy, once you know where to find it: switch to Data Frame View, and try again!