Re: updates, just go ahead and install the new version right on top. I save all previous versions, so I rename the file with the correct name save to hd and then run.
I recommend archiving versions in case you ever need to revert. BTW, if reverting, you'll need to uninstall fab, then newly install the older version. If you interested in any specific version, give me a holler and I can send it out to you.

Tom