Does the wallet update itself or do I need to download the latest version myself?
You need to update it LOL download it from page 1 of the thread
Thanks for your reply. I am a bit of a noob with wallets, I am trading a bit, but lost some Blackcoin on Cryptorush, so I am more cautious now and using my own wallets.
I downloaded and installed the wallet a couple of days ago, but I still need to upgrade I guess.
I don't want to lose the coins I already have in my wallet, so how do I upgrade safely? Do I need to backup something? I bought them for a couple of bitcoins, so don't want to lose anything this time.
Oh man, I feel like a noob

and replace you existing fluttercoin-qt.exe with the new one. thats all.