You can easily check for the latest published version of Hotspots by visiting https://compojoom.com/downloads/latest-releases. This page lists the versions and release dates of our latest releases. You can check it against the data which appear on the right-hand pane of your Hotspots Control Panel.
Updating Hotspots to the latest version is by no means different than installing the component! You do not have to uninstall the previous version; in fact, you are discouraged from doing so. Simply follow the installation instructions so as to install the latest Hotspots version over the existing Hotspots installation. That's all! All your settings are preserved.