1610s, "act of revising," from French révision, from Late Latin revisionem (nominative revisio) "a seeing again,"
edit (v.)1791, "to publish," perhaps a back-formation from editor, or from French éditer (itself a back-formation from édition) or from Latin editus, past participle of edere "give out, put out, publish" (see edition). Meaning "to supervise for publication" is from 1793. Meaning "make revisions to a manuscript, etc.," is from 1885. Related: Edited;editing. As a noun, by 1960, "an act of editing."
So...as I suspected it really means the same thing. I like the word 'revision' more than 'edit' however. Why? Because it means 'a seeing again' and it includes the word vision which I think a writer can look at in two ways. The first way is to look with your eyes or fresh eyes (someone else's ore yours after a break) at your manuscript - really see again. The second is to re -Vision. When we write our first quick drafts we are telling ourselves the story. It is raw and choppy and messy and lovely. When we revise we are refining the story for others. We know what it is now and we want to make sure it is as clear on the page as it is in our mind. We need to touch into our early vision for it. For my YA manuscript 'Bright Angel' I want the reader to understand the relationship between a confused rebel teen girl and an old woman. When I wrote the story initially I thought it was about the mother - then I realized it was about the daughter and a distant relative of the mother. I have to look at the whole story with that in mind. I also need to pay attention to different elements than I did when I was getting the story down - themes that appear - symbols - running metaphors and so forth. Does everything in my manuscript add to the over-all vision that I now hold of it? It's like a garden perhaps - the prairie grasses might be lovely but do they suit a garden that has an English cottage feel?
So - what do you think of revising from a revisionary point of view? And here is a photo of my dear Daddio who in his role as a public relations officer with the RCAF did a lot of editing! He used to edit pieces in his mind to go to sleep....