You can download the latest theme version from your ThemeForest account here... http://themeforest.net/downloads
Note: You will not lose any theme setting or customizations updating your theme as described below...as long as you have not edited any of the template files directly.
Method 1: Via WP Admin
- In your WP Admin, go to Appearance > Themes and temporarily activate a different theme.
- Find and delete the theme you want to update.
- Install the new version of the theme. Go to Appearance > Themes > Install Themes, select "Upload" and choose the theme ZIP file and click "Install Now".
- Activate the updated theme.
Method 2: Via FTP
- Extract the theme on your local hard drive.
- Connect to your WP directory via FTP
- Upload the theme folder to wp-content/themes/, replacing the existing files and folders.