You can edit and delete the text that introduces a cross-reference the same way you would modify any other text in your document. To modify the item to which a reference refers, you need to make a different kind of change.  

Procedure

1. Select the item inserted as the cross-reference (for example, you might select a Picture).
2. Select Insert à Reference à Cross-Reference to display the Cross-Reference dialog box.
3. In the For Which Numbered Item list in the Cross-Reference dialog box, click the new item to which you want the cross-reference to refer.
4. Click Insert and then click Close. 

Make a reference relative 

You can create a relative reference to a cross-reference by selecting the Include Above / Below check box in the Cross-Reference dialog box. Create your cross-reference as usual, selecting the item you want inserted, in the Insert Reference To list box, select the Include Above / Below check box. If the insertion point is on the same page as the item referenced, Word will insert “above” or “below,” based on the position of the reference. 

To move a cross-reference, simply select the reference in your document, and then cut and paste it. Once you have the reference in the location you want, press F9, Word updates the reference. If you want to update all references in a document, select the entire document (CTRL + A) before pressing F9.  

Note: To delete a cross-reference, simply select the reference, and then delete it.