A late update.
Did the offline/cold system first.
1. Made a copy of the existing Electrum folder
2. Installed the newer version of Electrum
3. After install, verified password was recognized and seed was the same
4. Did the same thing on the online/watching-only system
5. Went through the transaction process and successfully sent a small transaction
6. Did the same process with Electrum-LTC
Just curious, how do you verify if the seed is the same?
It's possible to check the seed by going to wallet => seed (you enter the password to be able to see the seed otherwise you can't).