Hi, that's an interesting question and I'm wondering the same thing.
As you may have discovered, if you increment the token count and change completed to N, it will show the participant's earlier response, but only assuming you enable "Allow editing answers after completion?" under survey/general settings, which you don't want to do!
Maybe you could export the responses daily, then when a participant wants to re-submit, delete his earlier response and reset the token?
Alternately, you could just add a 2nd token for the participant and send it out? If you're using LS 2.0 and the central participants db, it won't allow this so you'd have to do it behind the scenes directly on the db.
I'd be interested to hear from @Mazi or other experienced people on how they do this.