Most of the work you do on your Revit project will be done in Revit. The initial design, layout and modeling all occurs from within the Revit program. 3ds Max comes into play when you're ready to produce some higher-end renderings and perhaps add some final details.
Following is a basic description of the expected workflow between Revit and 3ds Max:
Exporting to a DWG file is necessary because the File Link Manager cannot accept the “native” Revit project (RVT) files.
Link the drawing using presets that include the linking settings you want as described in the Suggested Settings for Revit Projects section.
Depending on the results at this stage, you may find that the Revit project needs to be changed and updated.
For structural changes like adjusting walls, doors, windows, and so on., it's best to make these changes in Revit because those changes need to be included in the originating project. File Link is a one way link so any changes you can make in Revit, should be made in Revit. Otherwise, you'd have to remember to make the same changes in both 3ds Max and Revit.
If you give a new name to the exported DWG, the File Link Manager will not show that the currently linked file has been updated.
The changed model reloads to 3ds Max and changes made to the model in 3ds Max prior to the reload are retained.