Yes, this is a common practice, and I am familiar with it - I even highly support the idea for TV. As Jay said, it's a time constraint issue primarily. TV shows, even primetime shows, have a 5-6 day editorial turn around for the entire 45 min show. Templates can save your life and keep a show under control, especially on some SFX-driven shows where it's easy to run 96 tracks or more of cut material. And in shows where there's always new and recurring on-screen cues which must be kept track of.
Tim is very valid too in his quote which supports Jay's notion as well about creativity - yes, there is room to be creative and you want to inject creative ideas into every new show. However, one must learn real fast that there is a point of diminishing return in the TV workflow, and it will creep up on you fast if you're not careful. It's a "creativity in moderation' or 'restrained creativity' I guess - you pick your moments to shine. TV sound editorial I believe is a true shining example of Walter Murch's 'Clear Density, Dense Clarity'
Additionally, many shows have recurring devices, computers, weapons, backgrounds, you name it - and having it at your fingertips in a template (or means to conform it as Tim mentioned) is the only guarantee for continuity.
TV and film are very different mindsets for sound editorial, yet there are advantages of being familiar working in both modes and learning how certain aspects of each can effectively cross over from one another. There is a different type of creatively involved in working within this template-driven TV method, yet it still is a highly creative in nature.