Message: "DVD maker.dll has detected a version conflict. pleaes contact magix support. the program version requires the DLLAV32.DLL version 6.1.124 or higher.
No, it just updates the drivers that are used behind the scene, things you never see. It doesn't affect the project, but I do highly recommend you save, and then maybe even save again with a different name, just to feel more comfortable.
Any updates you do will require you to reboot the computer. So, you definitely need to save.