Can I change the status from Completed back to Updated?

I’m doing Who is She? in Chinese. I completed Part 3 and started working on Part 4 and 5. I cannot follow Part 5 at all yet. I can understand some of Part 4 and most of Part 3. I had archived Part 3 but then I opened it back up so I could keep it in the mix of what I am listening to. Then today I realized that I had forgot about Part 3 because the default WorkDesk only shows New, Open, and Updated items. Part 3 is Completed so it doesn’t show up unless I remember to change the selector to Completed. So I wanted to downgrade the status of Part 3 so that I could see it with the others and remember it. But, alas, there seems to be no way to downgrade the status of an item. What would happen if I deleted it and then checked it out again? Would I lose anything? Would I still have all my saved LingQs? Would I be penalized?