What’s the difference between and “update” and an “upgrade”?

An update is a minor change to software program, and only the number after the “v” is changed.

For example: 6v21 was the 21st minor change to the Studio Organizer 6.

An upgrade is a major change. When software is upgraded, the first number in the Version number changes.

For example: 7v01 will the first version of the Studio Organizer 7.