Anyway, what I found was this article:
Iliotibial Band Syndrome (ITBS) Myths
One of the myths it points to is this:
It’s the result of a tight ITB, so stretching to elongate the ITB is called for. WRONG: the ITB is a very thickened band of fascial tissues that is impliable. Unlike tendon and muscle tissue, the ITB cannot be permanently lengthened by stretching. Stretching can temporarily increase the length of the ITB by 5%, but this apparent change is probably due to a stretching of the two muscles that actually control tension on the ITB, the tensor fasicia latae and the gluteus medius. Tension on the ITB during running results partly from the contraction of these muscles, but when they are weak it appears to result from the downward collapse of the opposite hip when one leg is planted (which stretches the ITB over the hip, increasing tension.
Makes sense really.
So, if you suffer from ITBS that you cannot shake or which keeps coming back… Strengthening and stabilizing your core during running and modifying your gait to improve tracking of your knees and feet is probably your best bet in the long run. Everything else is a band-aid.