Need some help with the theme

Hello,
I've just recently changed the theme to your social theme since my old theme lacked compability with the newest wordpress and buddypress installations. And I of course wants to take advantage of all the functionalities the theme has to offer and tweak it to my liking.

First thing is:

I am trying to understand how the gallery settings work in the theme options. I can't seem to grasp how you do to get featured posts into there or is it images that go there?
A tutorial on that feature would be appreciated

I found the child theme *edit*. I do have a question regarding child themes aswell. How does it work when the theme gets updated and you use a child theme with the old code? Won't you have to manually redo all the changes you've made in child themes to get the latest version?

I will most likely have more questions later regarding this theme since I've just started working with it but these questions are the ones I'd love to have answered now

Thanks,
Robert