I have 2 e-mail addresses amalgamated into 1 screen. How can I update the system without losing any e-mails and contacts?
Before attempting to update the system, I recommend creating backups of your content and then using the backup procedure. You can obtain details about the backup process on the Microsoft page where the information about Windows Live Mail's backup feature is provided in detail.
Microsoft Live Mail support page: http://windows.microsoft.com/en-us/windows-live/mail-import-backup-restore