There is no reason not to, but only when it actually helps. The questions need to be considered carefully, first. For example:
7 year old questions with 30 views do not necessarily need to be bumped to the home page for this. While the edit may seem philosophically correct, it is not useful. Nobody will benefit from these types of questions, nothing is improved in reality, and the home page ends up cluttered with old bumps.
The vast majority of these questions can actually probably be closed at this point, e.g. as pertaining to a specific site, or sometimes even no-repro.
So if you are going to make an edit, instead of blindly editing, it's important to actually read the question and consider what the appropriate action should be. Don't edit it if it's not a useful question. Close it (without editing and bumping) if it needs to be closed. Etc. Before editing ask yourself "Who will benefit from this change?".
This applies not just to editors, but to reviewers of suggested edits as well. Always be sure to take a good look at the question and make sure the suggested edit matters and/or consider if there is a more appropriate action to be taken (such as closure).
This goes for all such "edit quests" in general, by the way. Not just programmers -> software engineering.
As for rolling back: To me, the major issue is the bumps, and a rollback doesn't help with that. The other issue is when a more appropriate action should've been taken, which you can still take without a rollback. If the edit is already made, unless it hurts the question itself, might as well leave it alone at that point. If somebody else does choose to roll it back, personally I'd just let it go, because if it's on an inconsequential question, then at the end of the day it doesn't really matter if it's "programmers" or "softwareengineering", and what's done is done (edits, rollbacks, and all), no reason to carry it on or start edit wars on old posts. The one case where you'd want to roll it back, though, is if the literal name "programmers" itself is critical to the question, although I can't think of an example.
Also, please excuse me for not being completely articulate, I haven't had any coffee yet.