This actually happened twice in n4. I played with a Kiel San and He rolled Regeneration. When The Kiel San has 2 wounds He goes into The transmutated state. Can He Regeneration back to the old Profile? Transmutation is only mentioning if you suffer wounds and you are at the threshold you go to the other Profile. Regeneration says you can Regenerate lost wounds.
Once the Kiel-Saan has transmuted, it only has 1W on its profile. Regeneration can't restore it above this - there's no facility to reverse a Transmution (W) effect.
My guess is that you can only regenerate up to the number of W for each profile. So for the Kiel-Saan, if you took 1 W on the first profile you could regenerate that; similarly if you were all the way down to unconscious, you could regenerate back up to 1 W on the second profile. However, at that point your W are “full”, and transmutation (W) only allows you to go down to your second profile; it does not permit you to go back up to your first.
