I get update notices my WP dashboard: IE: There is a new

Hello: I get update notices my WP dashboard: IE: There is a new version of E-Newsletter available on WPMU DEV. View version 2.6.3 details or upgrade to update.

When I click on upgrade to update I am brought to the WPMU website with no clear direction. I am a paying member.

Also, what is the best practice for updating WPMU plugins? Deleting the prior version and uploading the new version? If this is correct, will any settings or info be lost when updating this way? Guess I am just use to hitting an update button to update plugins.