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You do not need to uninstall the module before updating it. In fact, uninstalling the modules will remove all created instances.

Before updating, make sure you read the change logs from your installed version to the one you wish to install and are aware of potential backward compatibility issues.

Cached scripts and styles are removed on update. Updates fix issues, add features and/or improve performance and these wouldn't be reflected unless all cached files are re-generated.

When updating to a new major release or from a very old version, DO NOT UPDATE ON YOUR PRODUCTION SITE. Test the migration first.

Migrating to v1.7.x from v1.6.x

There are no compatibility issues with the prior version.

Migrating to v1.6.x from v1.5.x

The caching of stylesheets and scripts has gone through a total rewrite. It is no longer necessary to change file permission access on websites that have very tight security rules. If you have setup file permission access for the files of this module, you can now safely remove them from your server configuration.

You may still, however, run into access permissions under the new caching system. In that case, it is just a matter of granting access to (or white-list) the /cache folder created for the extension.