Update all hyperlinked shapes to reflect a new sheet name

gistfile1.vb

Sub ChangeHyperlinkedShapesToUseNewSheetNames()
    Dim ws As Worksheet
    For Each ws In ActiveWorkbook.Worksheets
        For Each shp In ws.Shapes
            If shp.Type = 1 Then
                On Error Resume Next
                If shp.Hyperlink.SubAddress = "'Old sheet'!A1" Then
                    shp.Hyperlink.SubAddress = "'New sheet'!A1"
                End If
            End If
        Next shp
    Next ws
End Sub