I remember seeing you a while back. I will try and answer your questions.
Is the banding a temporary solution? As long as you are cirrhotic with portal hypertension yes, the banding is a temporary approach to lesson your chance of bleeding.
do the varices regress or go off once my health /liver condition gets better? If your liver architecture/histology would improve (you were no longer cirrhotic) your portal hypertension may decrease and therefore you wouldn't be at as a great of risk for variceal bleeding. One example of liver improvement is seen in Hepatitis patients who are cirrhotic. If treatment is effective and the Hepatitis c virus is eradicated the liver may improve and cirrhosis may regress to fibrosis. In that case varices may not be as significant a problem/risk.
So in case of transplant in the post transplant period does the varices regress or i have to live with them for ever? Assuming you were transplanted and your new liver was functioning properly then no, you would not have varices because you would not be cirrhotic and therefor you would have no portal hypertension.