Can a commish reverse traded players and traded draft picks?

Commissioners can use League » Settings » Edit Rosters to remove players from teams where they were traded and then add them back to the original teams. As far as reversing traded draft picks, there isn't a mechanism for that currently, so the owners can spin up a new trade to reverse just the picks, or the commish can adjust the draft order to undo the traded pick when the new season activates.