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approved H1b(Change of Status) to H4 and H4 to H1b: Is this possible??

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  • approved H1b(Change of Status) to H4 and H4 to H1b: Is this possible??

    In US, as of March, 2014, I am working under H1b(no stamp yet) and my wife is working under O1 visa(no stamp yet). But she wants to file H1b in April 2014 so that she can transition from O1 to H1b beginning on 10/1/2014.
    But we plan to visit Korea in May, 2014 for some family matters and my wife wants to get O1 visa stamp to return to US safely. But the thing is that according to a credible source, US consulate in Korea is not issuing O1 stamps more than 70% of time for some reasons. So as a back up plan to return to US, she is planning to file H4 as my dependent during the visit and get H4 stamp. Let's assume that H1b filing has been approved BEFORE she returns to US and she returns to US with H4 visa stamp on her passport as planned.

    Under the scenario above, I need to ask a few questions.
    1. Is this scenario legally possible?
    2. If possible, what happens to her previous O1 visa and approved H1b visa?
    My guess is that O1 will be automatically terminated because of H4. Or I don't know if she will be still able to continue to work under O1. In addition, I was really wondering if she needs to file H1b again through her employer because she got H4 during the Korea visit.
    3. Does it make any differences in answering question 1 and 2 above if H1b filing is approved AFTER she returns to US with H4?

    I apologize for any confusion in advance if I am not clear here.

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