ConfigurationSettings.AppSettings property

What I'm trying to do is to run a WinForm app, which upon initialisation it reads some parameters from the ConfigurationSettings.AppSettings, up to this point, all is fine.
Then while the app is still running, change some parameters in the config file. If at this point in time the app executes ConfigurationSettings.AppSettings again, it will still get the old value instead of the new one.

Question is:
1. Is the configuration settings cached in memory?
2. Is there any straightforward method in the .NET lib to reload configuration settings from file?

Btw, I'm using .NET 1.1Start Free Trial