Hi! The tool is intended to help keep PLUS+1 GUIDE and all of your installed content (libraries, HWD files, etc.) up-to-date. It does look at the installed version of PLUS+1 GUIDE and each installed content file to determine if you need an update. You can also adjust which files your are notified about in the Subscriptions tab.
We do have the three previous releases included in the Update Center to provide patch delivery in the event of a patch after a major release. We're always looking for feedback too! If you think it is not working correctly, please get in touch with our helpdesk team!