I dont believe there is anyway currently to handle this but is there a way to handle branched versioning and merging currently? It seems that it is pretty linear as is. I have worked around it by naming different things but it would be easier with being able to branch, merge, commit, etc under a single object.
Right, there is no functionality like a full software versioning system. The system can just keep snapshots of saved items. Naming conventions are the best workaround.