Live Wire Theme Update and Rommendations

Hi,

My Live Wire theme on site infozonepk.com. It’s saying a them update. Current version is 0.1.2. Please confirm me that if I update the theme then my current customizations in theme will remain same or it wil be removed and comes to default.
If yes then tell me any method that these customizations remain same.

Now if the answer is to use Child Theme then how it will be possible as I have made all changes to main theme. How it would apply to child theme for my site.

Major changes are the Font Type, Stype etc.

Thanks,

Asif