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raimius I'm not a lawyer, but that makes it sound like you have an approved, registered firearm. I'm not 100% confident it's accurate, but you at least have the ATF's own document to argue with, if anyone gives you flak. I would not alter it to any different configuration, since the wording is so...odd...
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Firearms made and registered on a Form 1 rely on the maker to accurately describe what NFA firearm they are making. If you file a Form 1 as an AOW, but that firearm is in fact not an AOW as defined in federal law, you have a problem. If what you built is actually an SBR and you possess a a Form 1 for an AOW........thats a serious problem.
If that firearm is later transferred via a Form 4, ATF will approve the Form based on what the original Form 1 stated. Thats because ATF doesn't see the actual firearm, relying on the original maker to know what the heck they are doing.
If I were the OP there is no way in heck I would keep that firearm in its current configuration.
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