I was going to start this post asking why this wasn't working, but I believe I found an answer. So changed to why is it this way.
I was using some DWG file links to provide plan backgrounds for the areas outside of my project. I was trying to use the Object Styles under Imported Objects for the specific DWG files (multiple floors) so I wouldn't have to set the View Graphics for each individual view and template for those backgrounds. The issue I had was that only a few of the layers in the CAD file actually changed when I applied the Object Styles. But if I used the View Graphics in the individual views to define the layer colors, all of the layers changed. I've attached an image of a plan with 2 dwg links in it. The upper one uses object styles and the lower one uses view graphics.
Does anyone know why Object Styles do not affect the links colors in the same way as doing the same thing in View Graphics? If there is some grand reason behind it? It seems to make the Object Styles for Imported Objects less useful than it can be.
So, here is what I found out in my experiments. The difference between the lines that changed with Object Styles and the ones that did not, was that the ones that didn't change had instance properties (in the dwg file) that weren't set to 'ByLayer', under Linetype or Lineweight, for the individual lines. For some reason color being overridden didn't cause issues, just the Linetype or Lineweight that I can see.
So, I can modify the dwg files to set all the objects to ByLayer for Linetype and Lineweight, and Object Styles will work then. Does anyone know of an easier way to get the Object Style colors to apply to Imported Objects even if individual objects in the file have their Linetype or Lineweight properties set to something other than ByLayer?