What to do about an important typo mistake in my submitted conference paper? I just noticed there is an important typo mistake in my recently submitted conference paper. Actually it is like inserting a "-" where it shouldn't be and of course the whole algorithm might not converge if you use the above "-" in the formula! Well, if the reviewers try to dig out the mathematical details leading to that specific formula he might notice that it was a typo, otherwise he might claim that the algorithm shouldn't work as it is not stable because of that "-"!!

Anyway, as the submission has closed, i contacted the conference chairs to update the submission with that only change and they said not possible! 
I also considered putting that in arxiv, but it'll be permanent and I cannot do any future modifications in case! 

What about putting the correct version of the paper in my university home page?
Is it fine? 
Do you generally advise that? I mean if the paper gets rejected, how high is the chance someone else use it in his/her work and publish it earlier than me? is it risky?

p.s: The results and conclusion and the claims are all made correctly and regardless of that typo mistake
What you should do is to e-mail the organizers to tell them about it. Then, either they will let you replace the paper with a new version or they will not.  

By the way, it happens quite often that papers contains some minor errors. Some reviewers will notice them while other will not notice them. It depends on how much time each reviewer spends on your paper and how attentive they are when reading your paper.