It should update them if they are static entries after you restart DNS or reload the zone IF the entries don't have manual TTLs applied to them.
See here for a Technet thread that discusses the functionality and explains why the SOA TTL changes may or may not take affect for existing A records: http://social.technet.microsoft.com/Forums/en-US/031d48f5-46ae-4e6d-ae85-ae715e7c1206/ttl-of-dns-records-not-updated-when-soa-minimum-ttl-is-changed?forum=winserverNIS
However, if they are dynamic updates via either DHCP or DNS then the TTL defaults to 20 minutes.
Whenever a dynamic update client registers in DNS, the associated A
and PTR resource records include the TTL, which by default is set to
20 minutes. You can change the default setting by modifying the
DefaultRegistrationTTL entry in the following registry subkey:
HKEY_LOCAL_MACHINE\SYSTEM\CurrentControlSet\Services \Tcpip\Parameters
The entry has a DWORD value and lists the TTL in seconds. A small
value causes cached entries to expire sooner, which increases DNS
traffic but decreases the risk of entries becoming stale. Expiring
entries quickly is useful for computers that frequently renew their
DHCP leases. A large value causes cached entries to be retained
longer, decreasing DNS traffic but increasing the risk of entries
becoming stale. Long retention times are useful for computers that
renew their DHCP leases infrequently.
But I wouldn't recommend changing the defaults for the dynamic updates.