Here are two basic approaches to changing graphs in MMA 8.0. The first depends on HighlightGraph and, in particular, on GraphHighlightStyle -> "DehighlightHide" . The second approach uses VertexCoordinates graphics in future versions of this graphics.
We will discuss removal separately from additions because they contain slightly different methods.
[PS: I made a few changes to my answer to make it clearer.]
First, some data:
edges={1\[UndirectedEdge]8,1\[UndirectedEdge]11,1\[UndirectedEdge]18,1\[UndirectedEdge]19,1\[UndirectedEdge]21,1\[UndirectedEdge]25,1\[UndirectedEdge]26,1\[UndirectedEdge]34,1\[UndirectedEdge]37,1\[UndirectedEdge]38,4\[UndirectedEdge]11,4\[UndirectedEdge]12,4\[UndirectedEdge]26,4\[UndirectedEdge]27,4\[UndirectedEdge]47,4\[UndirectedEdge]56,4\[UndirectedEdge]57,4\[UndirectedEdge]96,4\[UndirectedEdge]117,5\[UndirectedEdge]11,5\[UndirectedEdge]18,7\[UndirectedEdge]21,7\[UndirectedEdge]25,7\[UndirectedEdge]34,7\[UndirectedEdge]55,7\[UndirectedEdge]76,8\[UndirectedEdge]11,26\[UndirectedEdge]29,26\[UndirectedEdge]49,26\[UndirectedEdge]52,26\[UndirectedEdge]111,27\[UndirectedEdge]28,27\[UndirectedEdge]51,42\[UndirectedEdge]47,49\[UndirectedEdge]97,51\[UndirectedEdge]96}
Here is the initial schedule:
g = Graph[edges, VertexLabels -> "Name", ImagePadding -> 10, ImageSize -> 500]

"Deletion" of the graph graph without changing the overall appearance of the graph.
Let's start removing the edge (4.11) located in the center of the graph. remainingEdgesAndVertices contains all the vertices and the initial edges, except for the edge (4.11).
remainingEdgesAndVertices = Join[VertexList[g], Complement[EdgeList[g], {4 \[UndirectedEdge] 11}]]
Let "remove" (i.e. hide) the edge (4, 11):
HighlightGraph[g, remainingEdgesAndVertices, VertexLabels -> "Name", ImagePadding -> 10, GraphHighlightStyle -> "DehighlightHide", ImageSize -> 500]

If we actually removed the edge (4, 11), the graph would radically change its appearance.
Graph[Complement[edges, {4 \[UndirectedEdge] 11}], VertexLabels -> "Name", ImagePadding -> 10, ImageSize -> 500]

"Adding" a graph graph without changing the general appearance of the graph.
Adding the edges of the graph is a bit more complicated. Two ways come to mind. The method used here works in the opposite direction. First, you include the new edge in a hidden shape, and then open it later. The initial graph with the hidden, βaddedβ edges will be in the layout, similar to the graph with the βnewβ edge. The reason is that they are actually the same graph: however, they show different numbers of edges.
g2 = Graph[Append[edges, 42 \[UndirectedEdge] 37], VertexLabels -> "Name", ImagePadding -> 10, ImageSize -> 500] HighlightGraph[g2, Join[Complement[EdgeList[g2], {42 \[UndirectedEdge] 37}], VertexList[g2]], VertexLabels -> "Name", ImagePadding -> 10, GraphHighlightStyle -> "DehighlightHide"]

Now show the graph with the added βnew edgeβ. 
This is very different from Figure 1. But this is apparently a natural continuation of Figure 4.
Adding new vertices and edges on the fly
There is another way to add edges (and vertices) while maintaining the overall appearance. This was inspired by what Sjord wrote in his answer.
Let the point {0,0} be reserved for future vertex 99. We just add this point to VertexCoordinates from g2:
vc = VertexCoordinates -> Append[AbsoluteOptions[g2, VertexCoordinates][[2]], {0, 0}]
Now let's see how it looks. g3 is just g2 with an extra vertex (999) and an edge (4.99).
g3 = Graph[Append[EdgeList [g2], 4 \[UndirectedEdge] 999], vc, VertexLabels -> "Name", ImagePadding -> 10, GraphHighlightStyle -> "DehighlightHide", ImageSize -> 500]

This procedure allows us to add new edges and vertices as we move forward. But to verify that the new vertices are in a suitable position, some trial and error will be required.
Adding only another edge (without a new vertex) is much simpler: just add a new edge and use VertexCoordinates from the previous graph.
You should be able to remove edges from the graph using the same approach (using the same VertexCoordinates ).