Nope. Just don't unpublish it. Edit the arc and republish it, but DO NOT click "Unpublish."
HoF arcs can be edited and republished as much as you want. Dev Choice, on the other hand, are locked and unchangeable (unless you unpublish them).
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there have been a few that suggested that I make the arc auto level to 50 to allow mixed level teams to play it.
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Personally I wouldn't do that. People have gotten too spoiled by this auto SK feature.
You arc clearly wouldn't have gotten to HoF status if it was really necessary.
I was going to pose that question as well to solicit feedback. It has done well the way it is currently published.
Running a search for your arc, I notice that the enemy group is 5th Column, which makes it one of the few times a 1-54 level range is justified, IMO. Setting the arc to auto-sk will effectively put it out of reach of lowbies, since high-level 5th mobs are balanced for high-level characters and are significantly more difficult than the mobs that appear at low levels.
Eva Destruction AR/Fire/Munitions Blaster
Darkfire Avenger DM/SD/Body Scrapper
Arc ID#161629 Freaks, Geeks, and Men in Black
Arc ID#431270 Until the End of the World
I think I made up my mind, I'm keeping it as is and not changing it to auto-sk. Had the same thought after talking with the wife.
Good. 
"If I had Force powers, vacuum or not my cape/clothes/hair would always be blowing in the Dramatic Wind." - Tenzhi
Characters
My mission recently made it to Hall of Fame and there have been a few that suggested that I make the arc auto level to 50 to allow mixed level teams to play it.
If I edit the arc, will it lose it's hall of fame status?