Is it possible to undo the entire computer's memory to five minutes in the past? For example, a text editor would be at a state of a 5 minutes ago as well as the web browser's state would also be at X minutes ago. The virtual machine and forensic software seems to be for analyzing the memory, but I have no need to do this, just to jump back 5 minutes ago. It's not necessarily relevant that it be exactly 5 minutes ago, but what I'm envisioning with this is a program that would have screenshots of the last half a dozen time states of the entire computer and being able to swap back to an arbitrary state 5, 10, 15, 20 minutes ago for example.
Short of Hypervisor based snapshots (which are outside the o/s), this is not possible.
Edit to add that snapshots are suited to temporary use (snapshot before a major change in case of rollback, then delete), not for a long-term project like you're suggesting.
These two VMware KB articles discuss snapshots and their best practices: