It's actually on this page under "Resets & Drops", but since 'canon updating' is the more used name, the title should probably be changed. :D;

But yes, an update would probably be fine! We'd just have to ask for any details that would change in the update (basically if there'd be new powers/abilities that would need to be noted). But an 'updated' character would lose their current memories of Adstring, and arrive as though they were new - though they could regain parts of their old memories over time.