I can assure you that reverting back to an older version of Test Studio will not solve this problem. Currently(it has always been like this) when you rename an element in Elements Explorer, the code behind file that uses this element will not reflect that change. We have a bug on this behavior, which you can track here: Public URL
As I stated in my previous reply, Test Studio keeps all the info for the elements into the XML formatted .tstest file and based on that .tstest file Test Studio generates the Pages.g.cs file. When the bug is fixed the Pages.g.cs file will not be needlessly regenerated, but it will be still regenerated on each test execution taking the info from the .tstest file. I don't really recommend it, but in theory you could hack the .tstest file to change the elements find expressions. That would change it permanently. However, officially I'm NEVER supposed to recommend this approach.
the Telerik team