Nope, because the old one's already been pushed off the end of the list and it doesn't re-generate the list when you unsave, just removes the item from the list.
Imagine I have a list of max length 5, when I initially fill it up it looks like [5, 4, 3, 2, 1]. If I save one more thing, it adds 6 at the front, then truncates the list and removes the 1 from the end, so now you have [6, 5, 4, 3, 2]. At that point, if I unsave #3, it just removes it from the list so you'd have [6, 5, 4, 2]. #1 is still saved, but nothing happens to pull it back into the list.
Imagine I have a list of max length 5, when I initially fill it up it looks like [5, 4, 3, 2, 1]. If I save one more thing, it adds 6 at the front, then truncates the list and removes the 1 from the end, so now you have [6, 5, 4, 3, 2]. At that point, if I unsave #3, it just removes it from the list so you'd have [6, 5, 4, 2]. #1 is still saved, but nothing happens to pull it back into the list.