It is suggested to save your key file somewhere along with designs you have made (if they are located in program's folder), then uninstall v1.4 and then install v1.6. Copy key file into program's folder (like you did in v1.4) to maintain registration.
Uninstallation is necessary, because previous versions had a different installer program used which is incompatible with the newer installer program. If somebody is using v1.5, installation of v1.6 can be performed over existing files without any problems.
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