Wait a second, you want to remove the data that is no longer in Excel file?
If that is the case, the easiest way is to delete all records in bulk with an Advanced Query and create it once again.

NOTE: Be careful when deleting data that might be referenced, so if you are using the LatestTrendId in another table, you might have database inconsistencies if you remove the record.
Regarding the second question, this logic flow is binded to a Timer which is scheduled to run When Published. So whenever you publish this module, this timer (and the logic flow associated to it) will run.