In a recent study of the content authoring experience done by Dharmesh users found the newly introduced "save and keep published" overly long and confusing and suggested the more commonly seen "update" (found in Wordpress, Adobe CQ5, Squiz and other CMSs as well as many social apps).
Since this is becoming the common solution, and because "save and keep published" is both long and awkwardly worded, it makes sense to change to "update".
Categorized "bug" since it impacts usability.