Try to uninstall the application from your system and download the new version from the developer's web site. Click the Download or the Play now button and save the file to your computer. Re-install the program with the new installer. The preferences will be retained.
To uninstall the application follow the steps below:
If you use Windows XP or bellow you can go to Start > Control Panel > Add or Remove Programs. In the currently installed programs box, click on the program and then click Remove.
If you have Windows Vista or above you need to go to Start > Control Panel > Programs > Programs and Features. Select the application and click on Uninstall.