You can certainly reheat a bow. That said, here's my ideal process:
I like to get a bow tillered to my draw length and then thoroughly heat the belly and induce reflex on a caul, using olive oil to help the heat soak in and to keep the belly from toasting. However, I'll often toast the belly (temper it) on purpose to hardened the belly fibers. In this case I don't use any oil. When tempering, I find it most helpful to burnish the belly as I heat it. It really helps to compress the wood fibers while they're hot and pliable.
It may be too late to try on your current bow, but I like to finish a bow out about 5-10# under my desired weight and then temper the belly, which adds about that much in additional draw weight depending on the wood, design, etc. The lower weight helps slightly in minimizing stress that leads to set during the tillering process and gives you more wiggle room when trying to hit a particular weight. Plus, once you've got the belly nice and temptered, you don't have to go and scrape away the hardened wood to reduce your weight back down to where you were to begin with.
Sure hope that makes sense! :confused: