Well, a bit of trial-and-error indicates that in my case at least adding a field to a TV's configuration didn't lose anything.
The database tables involved (unless, of course, you're using MIGXdb with custom tables) are the site_tmplvars and site_tmplvar_contentvalues tables. The relevant fields are all JSON strings. For example (I tested by first setting three sets with two fields, then adding the "date" field and editing one of them),
[{"MIGX_id":"1","title":"Test One","date":"March 3, 2013","description":"This is the first test."},{"MIGX_id":"2","title":"Test Two","description":"This is the second test."},{"MIGX_id":"3","title":"Test Three","description":"This is the third test."}]
As far as I am aware, there is no existing function to work with these, but it should be possible to create code to back up the content and then rewrite a new JSON string restore fields to the fields of the same name.