Hi @altocool, thanks for taking the time to report this! In the future, please provide steps to reproduce and links. :)

I could reproduce this. The link on https://ja.wikipedia.org/wiki/Special:RecentChanges goes to https://ja.wikipedia.org/w/index.php?title=Template:Treccani/doc&action=edit&redlink=1 which then redirects to https://ja.wikipedia.org/wiki/Template:Treccani/doc
https://ja.wikipedia.org/w/index.php?title=Template:Treccani/doc&action=history shows the page was created at that very entry.

@Aklapper Thank you.

Template:Treccani/doc became a blue link when updated.

It looked like a red link when the first edition (https://ja.wikipedia.org/w/index.php?title=Template:Treccani/doc&oldid=86367370) was the latest.

Previously, it was reported on "Wikipedia:バグの報告" that the same thing happened with Template:SfnRef (https://ja.wikipedia.org/wiki/Template:SfnRef).
In this case, it was improved when the problematic version (https://ja.wikipedia.org/w/index.php?title=Template:SfnRef&oldid=85994167) was updated.
The steps are the same, only the target page is different.

Moving to Needs Discussion for prioritization