This does indeed convert your "normal" account to a "test" account and it cannot be reversed
Take a look at this Article on Facebook:
We ensure that test users are exempt
from Facebook spam or fake account
detection systems to ensure that you
can test your application without
worrying about getting disabled.
Also, to ensure that using test user
accounts to test various scenarios
doesn't end up unintentionally
creating spam, we enforce certain
limitations on what test users can do.
- Test users can interact with other test users only and not with real
users on site.
- Test users cannot fan a public Page or create public content on them like
writing on a Page's wall. A Test user
can however view and interact with the
application tab on the Page if they
are associated with that app.
- They can be accessed and used by any developer of the associated
application.
- They only have test privileges on the associated application. This
implies that they can use the app in
live mode or sandbox mode but cannot
edit any technical settings or access
insights for that application.
- A test user is always a test user and cannot be converted to a normal
user account.
Up until yesterday, creating a Test Account used to just add you to the Facebook Test Network. So to undo this, all you had to do previously was remove yourself from the Test Network. Unfortunately, this is no longer true due to recent changes made by Facebook.
There is a blog post here with further information about this.
UPDATE
The process of converting your own account to a test account is now redundant.
You can now create up to 50 developer test accounts to interact with
your apps. Developers will be able to use the Graph API to create
accounts, manage friends, test their apps, and build automated tests.
These new tests accounts do not need to be verified, & each test user
will receive a login URL that does not require a password. More
detailed documentation of the APIs is available here.
Test accounts can now be created via the Graph API.
A test user is a user account associated with an app created for the
purpose of testing the functionality of that app. You can use test
users for manual or automated testing.
We allow you to access the test account via a login_url which allows
you to directly login to the account. The login_url expires after one
hour, but you easily refresh it to get a new login_url for the same
test user. We also provide you an access_token for the test user so
that you can take actions on behalf of the test user via the api.
An app can create up to 500 test users to start testing an app.
You can't deactivate Timeline once you've activated it.
As for Facebook’s help pages, there’s no reference given to turning off Timeline. In fact, the only conversion reference is if you accidentally switch your Timeline to a business page, something which requires contacting Facebook support to rectify.
[…]
Facebook has confirmed to us that there is no way to return to the old-style profile once you have switched to Timeline.
Best Answer
Unfortunately, probably not. Even if you were able to revert, it would only last until FB rolls out the new layout and makes it mandatory. I imagine that this is already the case.
Feel free to browse the info about the new features and layout: https://www.facebook.com/help/?page=260810124034353