Yep - you are right! This is a powerful tool.
Recently I used the selection filter to find in my drawing all my incorrect Radial Dimensions (my superficiality ).
I was looking to find only the ones with a missing "R" (Radial dimensions use an "R" followed by the value for the radius).
Ok - set up the Selection Filter - search/find/selected - change in the Property editor the Geometry/Label with the correct Value - done!