Is it possible to refresh .lov file of a universe thru sdk? Do anybody had a script for this? Please advise.
Yes,it is possible to refresh LOV's through SDK's.
You will have to use Report Engine SdK's.
Here is the link where you can find the API Reference and developers guide for XI 3.1
And here the link for BI 4.0
Let me know if you need any furthur assistence.