Hi ManojBevara,
I do not know about toggling back and forth. But if you go to RELEASE in the BP application, any package that has been created you can import it as a release which will overwrite the current process.
Ideally you should have different environments, and packages should be created when moving from DEV to PROD for example.
But for small changes in DEV between versions...I am unaware of any simple way to do it without comparing the two versions in the STUDIO and looking at all the differences, sorry!
Kind regards,
Ben