There's no way to undo it, as the update overwrites the old firmware. There's no real reason to remove an update as the updates add new features and increase performance, as well as allowing access to the eStore.
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You can't undo it.
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.
go int system settings and select updates catogory
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.