You can't undo it.
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It's not possible, I did a system update - formatting the system doesn't remove the updates just all userdata.
I doubt it. Maybe if you reboot the system, otherwise no.
Do a System Update from the Start menu!
No, Nintendo's updates block Flash carts ther not going to let you use an old firmware.
No, system updates can't be undone. Once you've run the update, the old firmware is 'gone'. Running a system restore or formatting system memory, will only provide you with a clean version of the updated firmware.