I tried playing with clip properties and edit details but the only way that I can see is to do the reverse of what you originally did. The "squiggly" line will disappear when it's restored to normal. Also, you'll see the clip "snap" at the point of the original length.
No guess work involved. Simply drag it out or back and it'll snap to the original length.
It's possible that one of the many Vegas tools out there has this possibility (Ultimate S, Tsunami, etc.) but I'm not sure. Someone else will chime in if this can be done with a mouse click.
um...er....hum... welll... maybe you just do it with ripple on... or do a post edit ripple? Is there a problem here? I can't see one.
In any case... depending on which way you stretch the event (make slower or speed up) you MAY have a gap after re-setting... or you may have the opposite (the restored event may be overlapping with the next events).
Bottom line is that you will HAVE to do something to the follow-on events on the timeline.