You could also do it manually.
Download the rar for your OS, distract it, and upload "install.cgi" to your "domain.com/cgi-bin/te" dir and chmod it to 755,
and access this file in your browser, works like a charm here.
Dont forget to delete this file when your update is done...(Important)
We didn't yet set update manager to show new update is available as we're still fine tunning something. If u want to, you can upgrade it the way Th3B3g described it. We'll set "new version available" in approx two days through update manager also when we finish the fine tunning.