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Please have a look at below Oracle doc from Support metalink.
Smart View "Undo" Button Is Grayed Out (Doc ID 1663286.1)
Let me know if you face any more issues.
Thanks for the response. I actually had seen that document, but to me it sounds like the Undo buffer should be generated on the initial refresh. The doc says:
In order to get the internal undo buffer loaded, run a Refresh when the sheet is first opened. This process should enable the Undo button. The Adhoc Query does not load to the "undo buffer".
That's what I am doing is running a refresh right after the sheet is opened, but the undo button is grayed out until I do a second refresh when it becomes active. At that point, I have lost the original numbers.
I've taken to just making a copy of the tab before refreshing due to this behavior.
I opened an SR with Oracle on this, it has been confirmed by the development team and an enhancement request has been raised. Hopefully it will get fixed in upcoming releases.