Versions
Save a version when a design is worth keeping, give it a name, and keep drawing. Any saved version can be restored, and restoring one leaves the others in the list, so going back is never a one-way trip.
Colorways
Save the pattern as a version, then swap DB1832 for DB0361 across the whole grid. The gold cuff is still in the list, next to the one you are looking at now. Compare them, pick one, or keep both for two customers.
The pattern saves itself as you draw. A version is a deliberate snapshot you take when the design is somewhere you might want to return to. Maker keeps the newest 3; saving another lets the oldest go.
Restore copies a version back into the working pattern. Nothing is deleted; the version you were just on is still in the list if the older one turns out to be wrong.
Undo and redo cover the strokes you just made. Versions cover the weeks. Use undo for a slip and a version for a direction.