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My opinion is that yes you could convert it back.
The law doesn't prohibit posession of handguns not on the roster. I would not define a person changing a single shot pistol to a semi auto as "manufacturing" unless done on a large scale or for commercial purposes.
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But Section 12125(a) does not allow the manufacture of "unsafe" firearms, and I think the law (and a court)
would regard converting a single shot back into ... whatever ... as manufacturing. The BATFE does. If you have a Remington clone black powder revolver and you install a Kirst cartridge conversion, if you mill out the loading notch on the right side so that the cylinder can be reloaded without removing it from the frame, you have "manufactured" a modern firearm and thereafter the firearm must be treated like any other modern, cartridge firearm.