When a new version comes out, please make sure you read the changelog at the bottom of the plugin’s page at codecanyon. In the changelog, you can see what has been changed in the new release. If you decided to update please follow these steps:
Update via FTP – This is the safest way. If you have access via FTP to your site files, you can replace the plugin files with the updated ones. Just go to wp-content/plugins/plugin-name and replace the files with the ones on the zip of the updated plugin.
Update via WordPress Admin – Deactivate and delete the plugin on the Plugin’s administration page of WordPress and upload and activate the updated files. This method should not affect your customizations (ex: custom messages). However, we recommend the FTP solution, because it’s safer.
Please backup your custom language files if you are deleting the plugin and uploading it again! Please make sure you read the Update section in the documentation related to each plugin in case a particular version requires special update.