You will want to use the old -Insert Block Name=Block Name trick to insert/replace the old one with the new one.
From Help File
Updating a Block Path: If you enter a block name without a path name, INSERT searches the current drawing data for an existing block definition by that name. If no such block definition exists in the current drawing, INSERT searches the library path. If a file is found, the file name is used for the block name upon insertion of the block definition. The same block definition is used for subsequent insertions of that block. You can replace an existing block definition with an external file by entering the following at the Enter Block Name prompt:
block name=file name
Updating a Block Definition: If you make changes to a block file that is inserted in your drawing and you want to change the existing block definition without creating a new block insertion, enter the following at the Specify Insertion Point prompt (following the Enter Block Name prompt):
block name=
If you enter = after the block name, the following prompt is displayed:
Block "current" already exists. Redefine it? [Yes/No] <No>: Enter y, enter n, or press ENTER
If you choose to redefine the block, the existing block definition is replaced with the new block definition. The drawing is regenerated, and the new definition is applied to all existing insertions of the block definition. Press ESC when prompted for the insertion point if you do not want to insert a new block into the drawing.