You guys have released a new version ! Cool ! How do I upgrade ?
Updating is easy.
First of all, do a backup.
I'll never understand why people ignore this. BACK UP YOUR STUFF, PEOPLE! Their is so much people who have lost their entire sites because of a server failure or corrupt database? It's not even hard and there are tons of plugins that will create automatic backups and send them to Dropbox or other cloud services (or even send them to you via email). Just find one with a good rating and get it set up now, not later.
ALWAYS make a backup of your entire site before you update. Usually the update install within seconds and cause zero problems, but it's better to be safe than sorry.
How to upgrade ?
First thing to know is that if you have modified PHP, CSS, JS files into the theme, the update will overwrite what you did.
Make sure to download the latest version on ThemeForest (Login into your account, then go to Downloads, and download "Installable Wordpress file Only" package.
Then there is 2 easy options for you to update:
One easy solution is to simply delete the old theme first, and then upload the new theme.
Solution 2. If deleting a theme makes your nervous, then another option is to rename the theme folder name while it's still on your computer, and then upload it.
In order to rename the newer version, follow these step:
Unzip the newer version on your computer
Once unzipped, you should look for the folder called "theme-name" (such as /ironband or /lush)
Rename this folder for something like "theme-name-new". (such as /ironband-new or /lush-new)
Zip your newly renamed folder.
Upload this newly renamed folder via the theme section in your admin area. (Apperance > Theme > Install Theme). You'll then have 2 theme (the old theme and the new theme). Activate the new theme.
See video tutorial: http://www.screenr.com/emSN