Would it be allowable (or prudent) to resubmit a book proposal to a press where it was once rejected, provided it was revised afterwards? If so, what elements should be different or included in the new proposal, besides an updated writing portfolio/CV (i.e. a note on how and where it was edited)?
Would it be allowable (or prudent) to resubmit a book proposal
Usually, Yes, provided the revisions are substantial and have materially changed the book for the better.
You will need to read the proposal submission terms if the specific press allows resubmission of a rejected book. If they expressively and univocally prohibit it, don't bother.
If so, what elements should be different or included in the new proposal
Please read the initial rejection letter and see if the reviewers have left any criticism/reason for turning your book down and see if the reasons cited have been addressed in your recent revision.
If yes, do highlight these revisions and include them in the new proposal/covering letter.