In the past, once you published a story and Google News indexed it, that was it - Google News would keep the story as is. That caused issues in the past for stories that needed to be updated, but yet reflected the wrong information in Google News. So what you would have are stories that are incorrect on Google News and corrected on the publication source.
Yes, even I have made typos in headlines and such, and Google News had the embarrassing typos forever, even though I updated the story minutes later in my publishing system.
This seems to have now changed.
A Google News Help thread has confirmed reports from Google's Inbal that Google News now reindexes and crawls news sources for the latest version if those updates are posted within a "short period of time." So if you make a mistake in your publication, you now have a short window of opportunity to update the article, in order to make sure Google News updates your mistake in their index.
How long exactly? One member said he thinks it is within 12 hours, but Google has not confirmed that number.
Forum discussion at Google News Help.