First, it is highly recommended that you back up your data.  Please visit the following link for more information.

http://support.discgear.com/forums/29883/entries/37286

After downloading the update from the web, double click the downloaded file to begin.

Next, open the unzipped .DMG file.

Drag the Discware Lite application to your Applications folder.

Please note the database.data file is now being stored in /~user/Library/Application Support/DiscwareLite/

If your database.data file from a previous installation is being stored elsewhere, use the File, Import feature in Discware Lite to import your old data.

Begin using Discware Lite by clicking ADD UNIT to add your first storage unit.

Give your new storage unit a name and choose your specific storage unit from the list of available units.  Click OK.