Yes, it's pretty simple: just reselect the template to load the new presets and save.
On the bright side, it's been cool playing around with the other widgets (e.g., dice, timer, countdown). I had to do some tweaking based of the way our theme interprets height and width (has to be in a style attribute), but simple enough to do.
I'll be doing a number of upgrades later this week when our quarter is officially over and I have a couple of days to get ready for the next!