Is pvl reversible in any way?

Not that we know. For more on periventricular leukomalacia, ask a pediatric neurologist, developmental psychologist or neonatologist. They can provide information on outcomes.
No. Pvl is not reversible. However, the long term effects of pvl can be minimized with appropriate physical therapy. It's a long process, and can go on for years or even be life long. In general, the earlier and more thorough the intervention, the better the outcome.
No. The injury of periventricular leukomalacia is not itself reversible, but anatomic correlations between the location of injury and deficits are unreliable because of the "plasticity" of infant brains.