Membership2 Plugins Update checklist

Hi,
i wanted to upgrade my membership plugins to membership2

I afraid it will affect my current configuration. I am using Truemag template and using short code for permission setting.

My site have 3 levels,

Premium User
[level-premium]
[not-level-premium]

Registered User
[level-register]
[not-level-register]

Guest User
[level-guest]
[not-level-guest]

My question

1) Can i maintain the same short-code after update the plugins?
2) What is the meaning of " have to manually set up all protection rules again after the update."

Could you please check my configuration and let me know the steps to upgrade to new membership2 plugins?
So i can follow the steps.

thank you for your help.
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