Also as Mr. Greg explained the application needs to setup the MAC address when the connection was lost and recovered.
I didn't mean to imply that. It simply has be bring the network down and then bring it back up again when the link is again detected by the PHY.
The MAC address is just a global field in the device structure. It should persist indefinitely and will not need to be reset. The MAC will automicatically be re-established each time the MAC is brought up again.