I was wondering if i updated my urbackup server to the latest version will keep the settings i had on the previous old server application ?
im currently using urbackup server 1.4.9
That is correct; however, I had problems going up to the newest version of UrBackup on a Windows 2008 R2 machine.
If you run a flavor of Linux, you should be mostly fine; Windows 2008 R2 might run for you, but that would be as low as it possibly could.
Also, if you are updating to the latest and greatest (which you should because the new customization is awesome) just make sure you have backups – just in case.
Four of the seven servers I admin run Urbackup on Windows Server 2008r2 and I have had no difficulty keeping them updated to the current release as shown on www.urbackup.org. This includes the 1.x to 2.x upgrade.
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You should always have current backups, but I wouldn’t worry about Urbackup updates more than another program.