Hi,
Please read more guide update theme : http://support.oceanthemes.net/automatic-theme-updates/
Changelog in latest version : 15 December 2015 – Version 3.2.0
- Update Font-Awesome latest version 4.5.0 - Update Visual Composer latest version 4.9 - Update theme compatible with wordpress 4.4 - Update demo content and include plugin one-click-import-demo-content - Update document guide and include link video guide import demo content in document guide. - Update files translate theme en_US.po & en_US.mo - Files edit vc_column.php, vc_row.php, style.css, base.css, skeleton.css - Change layout grid to 16 columns down 12 columns.
And how to update plugin : http://support.oceanthemes.net/how-to-update-plugin-with-latest-version/
Good luck