Hi Manish,
Once part is release in any PDM system, it is not longer in working state with that revision, must be update the revision showing some modifications.
Depends which PLM/PDM system you are using for release process, you can make working revisions before final release.
And yes 3dxml data is non editable and loss of parametric features and it is very difficult to redevelop the parametric data from 3dxml and required manual rebuilding process from scratch.
Depends on which platform you want to export and import data.