Similar threads are determined at the time the thread is created, so old thread/mods will not have the similar threads changed to show newer threads. You can run the update counters and it may do that, but there is no guarantee (you'd have to read the code to see how similar threads are determined - it's a formula based on age of the threads, thread titles, and other things I can't remember). And no, the update counters is not run as a scheduled task.
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