Look at the description of this update notification. I think this is a continued testiment to the interface of this end-user notification system which I think needs overhaul!
My recommendations for Update Manager is to model the interface after the Appointment Reminders dialog in outlook. When an appointment warning comes due it shows a nice dialog with the appropriate appointments due and subsequent options to "Snooze" or "Dismiss" each individual item, etc. Now just trade an appointment for an update notification and you have a familiar dialog with options for individual updates. The current implementation doesn't show a "remind me again in X days" where this could be easily handled with a Snooze type option. You can take it from there...but an overhaul is needed, hope this suggestion gives you a push in the right direction.
