Does itch.io's "new release" page track the page publish date or the update time? We created our page a year ago but are just now releasing a build. If it is tracking the publish date, are there any suggestions on what we should do? Would deleting our page and creating a new one be a viable option, or is that bad form? 

Thank you,

You don't need to do that. Just post a devlog marked Major Release or Update. That will bump your game back to the top of the list.