Technically generally but there is nothing for this unless you copy an image using the utilities.
If your purpose is to replace/update an image, you can do this via FTP if it has the exact same name. You may also have to clear the image cache to re-generate sized versions. (beware that refreshing metadata will re-import them).
Using ftp may be risky for us, with a number of amateur volunteers doing uploading, and also how replacing an image might affect our backup routines.
Our main reason for wanting to replace an image is because it is reversed. I see that there is already a Rotation function available in the Utilities dialogue. Could a Reverse (Flip) feature be added to this? It would solve 90% of our problem.
Rotation refers to the image orientation. I am not sure I understand how a "reverse (flip)" utility - assuming you mean mirro flipping the image - would help with copying image data?
Edit: Okay, I read wrong somehow. I can't promise anything for 1.6. You can always create a plugin to functionality to the utilities as there is a filter hook available. https://www.zenphoto.org/news/zenphoto-plugin-architecture/