Does that mean every time I want to make a change I need to do it in 2 places?
Or is the template builder frontpage the primary one
Just a note though, it's kind of confusing having the same type of setup in 2 places and not knowing which one to to change. The exact same settings are in the portfolio tab as well as the template builder>portfolio element. I can't think of a reason to have both if only one is useful. Perhaps in future updates the redundant options can be eliminated? (and then just a note to let people know that they need to go to the frontpage for further editing.
The portfolio settings (that are the same as the frontpage) cannot be deleted from the portfolio tab. Like I said, I don't know if there is a reason to have it in both places, there may be an xyz instance where that would be helpful but if not, it creates a bit of confusion. Just a suggestion :)