What version of Videopad is being used? Install this one. For licensed users upgrades are free for up to six months from purchase date. After that, VP will continue to fully function but a fee will be required in order to register the newest. Retain your old install file and registration info.
There's no mandate to update. Use what works for you. Newer releases can always be test driven, to discover new features and quirks. If one looks good after a period of testing, go for it. The 'chipmunks' have been banished - in an upcoming release.
Be sure to Save Project File AS routinely, giving it a unique # or name, so as not to overwrite prior saves. Using Save Project Files (no AS) will overwrite.