Yes, with Tyk Cloud Hybrid nodes, they will synchronize their tokens every 30 seconds or so. 

Tyk Hybrids will use Tyk Cloud as a "master" key store, they will copy tokens from our systems to your local setup the first time they see a token. Then from then on, they will use the local representation of the key to reduce the number of requests that need to go from your systems to ours. 

When you update  key on the dashboard, it flags the key for removal in your local cache, and will therefore refresh the token when it next appears in your traffic stream.