I recently flagged a borderline link-only answer as NAA. While the post was in review, the OP edited their answer into shape. I saw this and self-removed my flag.
Does this invalidate the post from the Low Quality Posts review queue? Is this the case for all flags and review queues?
The act of retracting a flag itself does nothing but remove the flag from the moderator's queue so it doesn't need to be looked at.
If there is a review item currently open for the post, that's a different story. Posts are pushed into that queue for a couple different reasons, and a not an answer flag on the post is one such reason. But the post does have to maintain that reason to stay in the queue. If it no longer matches the criteria for having a review item open for it, then the review task will get invalidated at the next cleanup check the system runs.
So, if your not an answer flag was the only reason that post was in the review queue, then it will get removed from review within about 15 minutes (via invalidating the review task). If there were other flags or other reasons the task was created, nothing will happen.
It appears that (at least for post flagged as NAA in the LQP review queue), the post is invalidated from review.
Retracting flags does not remove them from the review queue; a similar question was asked here, the comment by Shog9 ♦︎ reads as follows:
flags can set things into motion even before they're acted on, so allowing you to retract flags and re-cast them elsewhere would potentially allow you to circumvent limits in a number of rather disruptive ways.
Note that a 'Not an answer' flag puts the posts in a moderator review queue, not (only) in the Low Quality Posts review queue accessible by mere mortals with enough reputation. It might very well that retracting the flag removes it from the moderator queue as well.
