Apple - Shortcut to revert autocorrect change
After you've got the overlay with the previous, uncorrected spelling, you can press the down arrow key, then Return/Enter. This accepts the selected, uncorrected spelling.
Same. I also like having auto correct, but sometimes I'm trying to write a word spelt incorrectly on purpose.
Pressing 'Space Bar' will correct your word.
If you press 'UP' on your directions, it will cancel auto-correct.
If you press 'Down' it will let you cycle the choices, then hit 'Space Bar' when you've selected the word you want.
⌘ Command + z for Undo will undo the auto-correct.