There are four areas to discuss when updating versions:
Except for data sequencing, all of these update areas have a cross-version, multiple-version-enabled user interface.
Selecting Select on the OMW Projects tab of the Version Workbench main screen opens the Version Revision screen for a single version, or the Versions Revision screen that lets you revise version details across versions in the grid. Here is the single Version Revision screen:

Update details for single version
And here is the grid-enabled multiple Versions Revision screen:

Update details for multiple versions
Both screens provide batch version-specific details, available (or displayed) only for checked-out batch versions. The multiple Versions Revision screen also offers wildcard-enabled ‘Find and Replace’ / ‘Replace All’ functionality for the version description.
Using row exit Processing Options from the OMW Projects tab of the Version Workbench main screen opens the standard Processing Options dialogue if an individual version was selected. If a project or version template node was selected, the PO Mass Update screen opens after you confirm the generation of a working Freezepoint for the detected number of versions in the popup screen:

Instant freezepoint generation dialogue

Maintain processing options in a grid screen
The grid is QBE-enabled, and Visual Assist functionality is supported through either a clickable visual assist form or a UDC specification in a separate grid column. Wildcard-enabled Find and Replace / Replace All functionality is available.
Any changes in the grid are indicated by a clickable Reset value in the leftmost column, which undoes the change for that line. The processing option updates take effect in the login environment after you click OK.
Using the Data Selection row exit from the OMW Projects tab of the Version Workbench main screen opens the standard Data Selection dialog when an individual batch version is selected. If a project node or version template node is selected, the DS Literal Mass Update screen opens after you confirm the generation of a working Freezepoint for the specified number of batch versions in the pop-up screen: