VAX 1614, VS2005 SP1, WinXP SP2, C++
class cTest {
public:
	void Update();
};
class cTest2 {
public:
	void Update();
};
#define TEST(x) x.Update()
class cTest3 {
	void Update()
	{
		cTest test;
		cTest2 test2;
		TEST(test);
		TEST(test2);
	}
};
Paste this into a cpp, it will compile. Now use rename refactor on Update() in cTest class. Try to compile again.
As you can see the problem is, find references will find Update() in the #define also.
I think, references in #defines should not show, or should be marked by "?" icon at least.