Depends on the machine and.. maybe other things. I used to think that, too, but on my current machines I can step backwards just fine.
It's probably a much more intensive operation requiring processing a lot of the file from before and throwing away current buffers or something.
Names actually have a really high collision rate, so for collecting information they're not good. You don't want all the different John Smiths' data clumped together. They're useful once you start sending personalized stuff in though.
Except I think your instance affects what you see. Not all communities and instances are replicated everywhere.
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