Update to Aqua 2.1

I read the other posts about updating the Aqua theme. Still some questions before taking the big plunge.

Will I lose all the customizations I’ve made in the Theme Options menu? If not, do I still need to use Winmerge? I haven’t made any direct .css or .php changes in the editor.

How do I update just the files (noted in documentation) without removing the Aqua 2.0 theme first from WP? I can’t just upload the new zip folders that I downloaded from ThemeForest?

Thank you in advance! Sorry I’m so dense. Just don’t want to lose all my hard work.