After a symbology is imported from another layer, there appears to be no way to remove that symbology and do a new symbology directly in the layer's properties box. In particular, the imported symbology is using the category method, and that method no longer appears in the list of methods in the symbology tab. Also the box one gets when Import is chosen, has no way to select a "no import" choice. Do I really have to create the layer again to be able to do a new symbology?
and you tried setting it to single symbol using another field? then try something different afterwards?
EDIT
But if you are referring to a layer file as in symbology layer file Creating a layer symbology file—Help | ArcGIS for Desktop
then yes, you just recreate it Save To Layer File—Help | ArcGIS for Desktop