I would also add that "Maximum Undo Step by VI" default value should be changed form 8 to the max of 99. For every new LabVIEW version I install, I end up doing this
I'm sure I would find this useful most of the time, but I am a little worried about security. If something is typed into a VI and I want it gone, whether it's secret, profane, embarrassing, or whatever , I need to have some way to make sure it has been purged. At the very least the undo cache should be saved somewhere else on the local machine rather than in the VI file itself. But even if cached separately there needs to be an easy way to clean it up.
Microsoft Word had some big issues with this, and now there is a market for tools to clean up your Word docs. Let's not go there!
@jdunham: I had read this (perhaps mistakenly) as retaining the Undo history in the current editing session (i.e. until the VI is closed), rather than saving it with the VI. My take is that version control should act as the long-term "Undo" provider, so possibly contrary to the initial idea.
GregS is correct -- this is just undo for the VI in memory. It does not save the undo stack into the VI. It is going to be the same behavior as, for example, editing a document in Microsoft Word, or a document in just about any other editing environment you can name.