The High-Resolution Data Manager only rolls out and in the image data. Frame attributes like transparent or inverted view, or even image control curves, are kept in the document and can be edited even with rolled-out image data.
Please note that swapping image data does not change these attributes at all! You can e.g. adjust control curves while only low-res data are shown. When you roll in the high-res data again, the control curve will also be used to control their view.