I was reporting that an address was quite a bit off from where it should have been, the building's driveway was about 30 feet from the reported location, not to mention the actual driveway that had to be driven
(This place isn't actually well marked on the road, the sign kind of comes up pretty fast).
While we now have the ability to enter addresses into the editor to correct bad locations, there are still some bugs in the system, and as of right now, the client app doesn't reference that data when looking up an address.
Locations are looked up via Bing or Google, which then returns GPS coordinates to Waze. Waze then routes to those coordinates.
The problem is likely with Bing or Google. Whoever responded to your Update Request should've marked it "Not Identified", rather than "Solved".