This issue has been closed as 'Won't Fix' due to an extended period of time without updates. If this issue is important to you please let us know by posting on the AnswerHub or UDN, and Epic will re-open the ticket for further review.
Changing the Use Localized Graph Editor Nodes and Pins setting requires a restart to take effect but doesn't prompt you to restart the editor as other settings that require one do.
This also happens in 4.12.5
There's no existing public thread on this issue, so head over to Questions & Answers just mention UE-37514 in the post.