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This module is so useful that it could use it's own drush command to run the update existing nodes script.
Drush help might describe the feature like this:
drush cnr-up
Update nodes having corresponding node reference, to synchronize node references.
Example: drush cnr-up --batch-size=50 book author store
Arguments: node types to update corresponding node references
Options:
-- batch-size Number of nodes processed in each batch