You wrote: "Is there an opposite term [to 'sic'] which can be used to denote a paraphrased usage, informing the reader that the source material has been changed... Could I make it clear that if I was using the second version, that I know it is a variation on the actual source?"
In grad school, we had to meticulously cite any sources or ideas used in our papers and projects, which is a good practice. However, there wasn't a word or phrase, outside of the properly used footnote/endnote and bibliography, that accomplished this. We used Turabian's A Manual for Writers of Research Papers, Theses, and Dissertations for all formatting of approved, professional papers. That being said, you can also articulate your usage in the text itself or in a note if you feel it would detract from the flow of your work.
I would also like to point out that in some cases, like the one you used of 1 Timothy 6:10, more work might need to be done to address discrepancies in your source material. Noting variations is important, as you yourself showed that:
- "For the love of money is a root of all kinds of evil." – NIV, NRSV
- "For the love of money is a root of all kinds of evils." – ESV
- "For the love of money is a root of all sorts of evil" – NASB
- "For the love of money is the root of all kinds of evil." – NLT
- "For the love of money is the root of all evil: – KJV, KJ21
...is often mis-quoted as: "Money is the root of all evil." Obviously, 1-3 are different from 4 & 5, which are both different from how you said they are misquoted. Aside from just articulating the difference between what your source says and YOU say (a cited paraphrase), I'm aware of no other phrase (Latin or otherwise) to cite your usage. Whatever you choose citation MUST be made to avoid unintentional plagiarism. I hope this helps.