Yes it does go back to the position from which it last acquired first, and if nothing is there is will start a search. So far it has not required any updates and hopefully never will because there's not an easy mechanism for that.
The 103 numbers are a little concerning. If that's really 12% RCL you might have a problem.
I had the same issue with corrosion on the base to the point is easily stripped off with an air compressor. That is a lousy powder coat job on those antennas and the factory really needs to go back and revise the process. That's really my only complaint on the traveller. (Edit iPhone spellin')
