Yes, I just tried to update to the latest version (released today) but it did not work so I did the same thing. Uninstalled, changed the .zip file name to .rbz, then was able to install new version.
Whish they would publish what is changed so we could test the updated/new features. I did notice in this version that the progress bar when creating a video is back though. Have no idea yet what else may have changed.