You can delete any version of a document in its version hierarchy, including the published version. however, you cannot delete document versions that have been declared as records.
Delete a Version
If you delete a published version, you can publish another version of the document. CAUTION: When you delete a document version, you cannot recover it later.
In the Contents tab of the Tree View pane, right-click the document version that you want to delete, and then click Delete Version on the shortcut menu.
Click Yes to confirm your selection. Alchemy removes the selected document version from the version hierarchy.