Updated
2/7/2017 1/30/2017 - adding link to thread with info for finding/replacing graphic elements. At some point I may add this functionality to the tool, but no time for that now. But worth making note of possible solution:
Python script for mass find and replace of workspace path?
https://community.esri.com/message/664513-re-write-broken-source-list-to-text-file and a simple script, if you do not want to use the addin
12/20/2016 -- my download and install instructions are a bit off. Paul Davidson pointed out that it was not working. If you download the file and it is called ChkandFixLinks.esriaddin.zip you need to unzip it first, then double-click on the ChkandFixLinks.esriaddin file. Then it should work. This is a toolbar for ArcCatalog (not ArcMap). I just installed and tested with 10.5. (only tested the first 2 buttons to make sure it worked).
