This dialog box give you the ability to see and recover every version of the currently open Visio file. In this context, a version means a file that has been saved and closed. That is, if you've opened a drawing file, made a change and saved the file, those changes aren't listed as version in this dialog box until you close the file.
You can use this dialog box to open a read-only view of a prior version of a file, or to restore a prior version as the current version of the file.
The link near the top of the dialog box opens a web view of the OneDrive for work or school or SharePoint in Microsoft 365 folder where the current file is stored.
View a prior version of a drawing file
The saved versions of the file are listed in order, beginning with the current version at the top.
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Select the version of the file you want to look at.
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Select Open.
A read-only view of that version is opened in a new Visio window.
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Select File > Close when you're done reviewing that version of the file.
Restore a prior version of a drawing file
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Select the version of the file that you want to make into the current version.
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Select Restore.
A message box asks you to confirm that you want to replace the current version of the file with the prior version that you've selected.
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Select OK to confirm that you want to make the change.
The open drawing file is updated to reflect the version of the file that you chose to be the new current version.
