There may still be an earlier version of your model in the Hub's temporary directory.
If you're using Windows, take a look under your User Profile directory at:
...\Local Settings\Temp\lwhub\
There should be a whole bunch of files in here (depending on how often you clean up your disc), one of which should be close to the final, unfrozen object.
To automatically reduce the points in the object, well, you're going to realistically look at plugins for this.
Take a look at this thread here:
http://forum.simplylightwave.com/sho...ght=quemmloss2