With the release of WooCommerce 2.1 we would like to suggest a few steps you might want to consider before you click that update button. To ensure there are no interruptions to your live website - a live website is where you are selling all your products from and you really cannot afford to have any interruptions to this website. All testing for the new version is recommended on a test site as there is no way to determine wether or not there may be some slight tweaking to your design (theme) or the plugins installed on your website do not want to play nicely.
You will need to check that the theme you are using has been updated to be compatible with WooCommerce 2.1.
WordPress 3.8 is required for WooCommerce 2.1 to run, so please update to the latest stable version of WordPress. This not only gives you all the new features in the new WordPress version, but also ensures your website is on the safest release of WordPress to date.
We strongly suggest that you wait at least a couple of weeks before upgrading. Reason being, WooCommerce 2.1 has been tested carefully, but there may be bugs that were not discovered during the testing process. Thererfore it's wise to allow some extra time for additional testing by other WooCommerce users before upgrading your own sites.
When you are ready to upgrade, make absolutely certain that all your plugins that interact with WooCommerce are updated before you upgrade WooCommerce itself.
We have been very busy and we endeavour that all our WooCommerce extensions will be upgraded/tested and released by the 19th February 2014 to be compatible with WooCommerce 2.1.
Here is an article which may help if you encounter any issues after updating to WooCommerce 2.1: Solving common issues after updating to WooCommerce 2.1