After going back and forth wtih a support person, I was told it is NOT possible to create segments that apply to multiple report suites.
Although there are Pre_Configured segments setup that DO work with mutliple reportsuites.
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I simply want to create a segment and apply it to the 20+ reportsuites I have setup under my account. Right now, the only way to make this work is to create site specific segments. This creates a lot of extra work when it appears the ability to create segments that can apply to any reportsutie is already avaialable.