If someone had already started the survey, they would see their version of the survey pre-changes. New visitors would pull the current version with the spelling correction.
FYI, changing reporting values once the survey is live will give you split results:
Yes
No
yes
would be what would happen if after collecting responses, you change the reporting value from yes to Yes. They are considered completely different answers.
After the responses are completed, you can wait more than 7 days since the survey was last accessed, then use the EDIT LINK for the individual response (found when viewing a response found through browse responses) to edit their survey, and after 7 days of inactivity, it will use the newest version with the correction, thus resaving the results (go all the way through to the thank you page) with the correction.