I find this feature more than a little problematic as-is...

If somebody updates the details of their past or current promotions, I think it should not erase the vote history. ("Oh, now I found the date of my blue belt promotion" or "Shit, did a typo there on the coach name"...) I have no idea updating which details will result to this, but I'm getting reverification notifications from people whose rank hasn't changed.

At least, it should be visible what you have written before when asked to re-verify. Writing something again is tiresome and in worst case people won't bother. (Or if you did a proper background check on a person you haven't meet, and wrote about it, it will be erased and you might not remember about it.) Also these re-verification notifications can get buried in the notification feed, and thus people can lose vote points just because they update a past detail.

Additionally, there are some carefully written testimonials and nice correspondence in the vote comments. A shame for all these to completely disappear, even when a new rank is earned. They should stay viewable somehow, perhaps under the rank they were originally given for.

Last point. Example: somebody gets a new degree on their black belt. Instantly the person will lose verified rank status, and this can cause a trickle down effect, especially within smaller communities, when all his points are taken away from the people he has voted for. The greater the rank the greater the effect. It's not like a person's legitimacy can vanish in between, say, earning the 3rd and 4th degree for their black belt.