Nope, it doesn't reset anything, the file change is transparent... which is the main feature I wanted. That way you don't have wip #1, wip #2, wip #3 etc., you can just keep updating the file.
(but honestly, I would only do this on nearly complete tracks. If you change the track significantly, like new arrangement, then the comments will be weird and misplaced. I only do this on tracks I'm just about ready to submit. For true "wips" I upload them to Box instead of SC.)
So when you say you just got one of those too, do you mean the bogus followers? I guess that's one way to boost your follower count, but jeez, it's disgusting (at least to me).