First, I'd suggest you pick up one or two condensed versions of Roberts Rules of Order (there are several versions at any big bookstore for about $5 each). RRO covers bylaw amendments and notification and you can get "official" advice there. In fact, most bylaws specifiy RRO as the parliamentary authority on matters not covered in detail in the bylaws themselves. This is a good example of when to invoke RRO.

If you're going to do a top-to-bottom review of your bylaws, you should form a committee. Personally, I don't think you should have more than one officer on the committee - spread the work and responsibility around. When we've done this, we've had 3-5 participants. Bylaws should be reviewed (and revised) using a formal bylaw committee every few years In between, they should be tweaked by adopting individual amendments. I believe RRO is somewhat vague on how to notify your members of proposed bylaw changes, but it does insist you notify somehow. We have a policy that bylaw changes can't be proposed and adopted in the same meeting. Usually, we present a proposed amendment one month, post it in a public display for the month, and discuss/vote the second month. Hope this helps.

Many of our general members can not attend meetings due to work schedules. They are asking what the changes are and being told they have to attend the meeting to vote on the changes. By-laws do not define notification in detail.
What are standard practices for by-law changes?
Should a by-law committe be formed to make changes and if so should this committee be made up of only board officers?
When making notification of changes should exact wording of the change be used?

If you made some drastic change to your bylaws, such as changing the general purpose of the organization to something that the IRS no longer deemed charitable, theoretically your exemption could be revoked. But just changing the governing structure to add some more officers isn't going to do it.

You do need to submit changes in bylaws or other governing documents. Some people do it as soon as they're made, but I think that's generally more trouble than it's worth for the type of stuff that a PTO is going to put through. Just do it when you file your annual information return (990 or 990-EZ)--it's question 34 on the 990-EZ. Different states may have other requirements that require more timely filing of a change (or no filing).

Can exemption be taken away due to changes in the by-laws; specifically restructure of the organization to include co Presidents & co VP's? Our original by-laws were accepted with the standard positions for exemption but revisions have been made. Do our revisions need to be re-submitted as some have suggested? One has implied that a state may refuse exemption or revoke based on changes they do not approve of/support.
Any help from the RR & tax exemption experts would be greatly appreciated.