Once you transfer the shortcut to your Apple Watch, it works directly from the watch. I've assigned the shortcut to the watch face. When I open the shortcut, it will open the audio recording. Say you're messaged and it will transcribe it on the watch face. Then click done. There is no need to go to your phone.
This is happening to me as well. On both my Mac client and Web client, I can search for "todo:true" but not "todo:false". The only exception is that "todo-false" will find the unchecked checkboxes in the downloaded template files.