No, if the data changes outside of the ORM, the only way to refresh the data is to rerun the query.
Why is rerunning the query a problem? Are you mis-using the ORM model for other things, as it should only contain the DB data, so a reload can't be a problem?
p.s. the ORM doesn't return variables, it returns object references to the ORM cache, if you rerun a query, even when using a different variable to store the result, the cache is updated and every variable that references the cache is updated to.
If you do
$a = Model_Something::find(1);
$b = Model_Something::find(1);
var_dump($a, $b);
you will see that $a and $b reference the same object.
The ORM does this to make sure data remains consistent within the application.