One of the most requested features is to be able to replace an image, without losing the images stats, in the event of a re-edit.
You can now replace an image by going to Your control panel > Photo Manager > Click the image you wish to update > Click the browse box on the bottom left, underneath the rotation links > Click Update.
After a few moments you'll see a message that the image has been replaced :)
If your image has MadcowModels watermark settings applied - these will be applied to your replacement image also.
James