Does meiosis involve a reset mechanism of any kind?

The reset happens in the days following fertilization. Pretty much 100% of human DNA gets demethylated then.

no, no it does not strip protien complexes away from the DNA strand.

it involves a localized progression along the DNA surrounded by histones, and regulatory enzymes, displaced from proximity, until the replication fork zooms on through, and it all snaps back together.

the process is error prone, strands may cross over, chromosomes may fail to migrate properly.