No they do not, but one thing you have to keep in mind is that every edit bumps the post to the home page, so you should only make the edits in small groups (I usually do 30-40 at a time) to keep the lists from being flooded with old posts. It irritates some people. I'm not saying you have to wait an hour between each group, but complete a group of posts and then take a ten minute break or so, browse a few questions, and then get back to it. There's no hurry, the posts will be there tomorrow.
Since you have full edit rights, you shouldn't have a problem. These types of edits are frequently rejected in the suggested edits queue though, as they tend to only correct the phrase and not address any other issues in the post. I strongly suggest that while you're going through these posts that you at least attempt to fix other blatant issues with the posts, rather than just making the quit change and clicking finish. Not only will it slow you down slightly to put more room between the posts you're bumping, but it will help further improve the quality of the posts. I think this is kind of obviously with the specific phrase you've chosen (it's hard not to rephrase it).
Also, please do not bother editing closed questions which are unlikely to be reopened. No one enjoys seeing closed questions get bumped up when they can't answer or really do anything with them.