Currently, if you create a calculated column in a report, you can select fields from a picklist and use them in the equation. However, if there is a change to the field's name (for example 'Budget' > 'Budget (assumed)', then the calculation breaks because it still references the old field name.
This makes us fearful to make any changes to Field names, with the potential that any number of reports using calculated fields could be inaccurate, and without any warning since the fields just zero out.