SOLIDWORKS: Replacing Reference Parts

Solidworks has a round-about way to replace referenced parts in part files.  Instead of the logical UX decision of having this function in a context sensitive right-click menu, it's hidden in the dialog box when you open a file from the file menu.

I don't know about anyone else, but I usually just double click on my last project file.

1. Go to FILE > OPEN 
2. Click to highlight the file with references that you want to replace
3. Click "References..." box in the lower right hand corner
4. Double-click on the filename box and select your replacement file
5. Click Okay, then Click Open.

Source: Solidworks Blog