Of course Siva,
Although the restart of the web server normally is very quick, I normally prefer to regenerate and propagate to get a coherence in the environment. Sometimes editing manually can cause the corruption of the plugin.
The plugin will be refreshed when the refresh timeout established in Plugin file occurs.
Refresh configuration interval"Specifies the time interval, in seconds, at which the plug-in should check the configuration file to see if updates or changes have occurred. The plug-in checks the file for any modifications that have occurred since the last time the plug-in configuration was loaded.
In a development environment in which changes are frequent, a lower setting than the default setting of 60 seconds is preferable. In production, a higher value than the default is preferable because updates to the configuration will not occur so often. If the plug-in reload fails for some reason, a message is written to the plug-in log file and the previous configuration is used until the plug-in configuration file successfully reloads. If you are not seeing the changes you made to your plug-in configuration, check the plug-in log file for indications of the problem."
If you have your Web Servers in HA then you can restart it without problem and without wait to refresh timeout.
regards,