The action summary is strictly that, a summary of every item considered an action (a buy-in, bust-out, rebuy, etc). If something is "undone", it will be removed from the Action Summary, as if it never happened. Actually, the Action Summary is generated each time you look at it by running through the tournament and compiling a list of all of the actions.
There is also a Tournament History that is more of a "log" of items. It records more things than the Action Summary, and once in the History they aren't removed unless you reset the tournament. You can also add items of your own. There's a button for the Tournament History on the Game tab, or you can get to it from the context menu (right-click) in the Game window.