Do defined names wtill work in showing created from another workbook template

When defining a name, does the workbook it refers to, i.e. a template, always have to be linked to the current workbook, for the defined names to work? I inherited a template that I create xlsm workbooks from, however in Names Manager when I am in created workbook I see each defined name twice, once showing it referring to the name of ANOTHER template (not the one we create this workbook from or seem to even have anymore), and another entry just showing "workbook". The defined name referring to the other template doesn't have value but instead shows {...} however the second one (that refers to WORKBOOK) has the proper value. Should I have any concern about the entries that refer to a template I cannot locate (I'm not sure it still exists) or do the names need to be referring to the current template? Thanks for your help.