No. It can't work this way. You see, different vector graphic formats are usually not 100% compatible by featureset. By exporting and then importing back you may lose some of the elemtes in your design that are native to Xtreme but not supported by the format you were using for export.
There are only two formats known to support all the functionality of Xtreme - XAR (a.k.a. WEB) and WIX.
SVG does not support all the Xtreme's features. So when you would export your design to SVG, unsupported objects would be either converted to shapes or even rasterized. Importing such design back would be of little use as you'd lose native editability or even scalability. So you still need to have a project file in native format. This is an axiom for any vector graphics program.
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