Yes, that is a downside of pivot charts (and pivot tables). Several formatting options get reset each time the table/chart is refreshed.
What you should do is create custom code that makes the changes you want. To do that, select the PC, then turn on the macro recorder (Tools | Macro > Record new macro...), do the customization you want, and turn off the recorder. Now, earch time you redo the chart, select it and run the code.
Edit: Alternatively, you can do what I do often. Use the data from the pivot table but create my own 'regular' chart. Now, the chart refreshes whenever the PT does but it doesn't lose any formatting -- with the added benefit that there is no code to worry about.
MJK said:
I've been expermenting with pivot charts. They work great, but all you can get when using a bar chart is a blue bar. I tried reformatting the chart, changing the bar colors, adding values - until it looks great. But once i refresh the data - I lose everything and am left with the default blue bars. Is there a work around ?