I just upgraded to V7.9.9. RC1 to get rid of that annoying SQL Query Update issue, but it is still there:
Click on Easy Chart Pen Select:
If its like partial fix in 7.9.8, you’ll have to go back into every binding that got messed up by editing in either 7.9.7 or 7.9.8.
The RC that’s currently up doesn’t have the latest fix. 7.9.9 final release will have a fix that won’t require going back into these bindings.
DB Pens under Chart Configuration
Right - that’s the bug. 7.9.7/7.9.8 enable an update query (because all query bindings are the same under the hood) even thought dataset properties know enough not to give you an update query option. For now, switching to named queries is the best solution.
Okay, there is going to be a bit of a rant here, so do not take this personal.
This is where I have an issue with people sitting in an office not realizing what we guys ( and gals ) are going through out in the field. I have had a working application for 8 years now that you guys have broken with V7.9.8. It was working fine up until then.. Ask Travis about the Flomation eView project and he will concur my statement about how long it has been around.This named queries option popped up recently and i have no idea what it does or how it will impact the current SQL Query query that is shown on the screen shot.
Guess i have some reading up to do.
</rant OFF >
Basically, named queries are a drop-in replacement for query bindings - we worked hard to make them as seamless an upgrade process as possible. There's even an option to "upgrade" an existing query binding to a named query. They're not quite as easy to work with, since you have to jump to a different area of the designer to modify a named query, but there are some big advantages (caching, mainly) that make it more than worth switching over. That it fixes this query binding issue (which is definitely unpleasant - no disagreement there) is a side benefit - I would advocate switching to named queries for all the other reasons as well.
EDIT: 7.9.9 is now available.
Sorry to add to the rant, but we jumped right on named queries and they have been very buggy and almost every point release since they were added we have needed right away to fix named query bugs… 
I completely agree with the concept and really need the feature of named queries but can’t have Ignition crashing on me, its getting a bad rap around here.