Glue will update the Libraries folder for all projects (main and synced projects) to the latest .dlls. In other words if you have multiple projects like PC, iOS, and Android, all libraries will be updated for all projects.
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The Update Libraries menu item will update the FlatRedBall .dlls that your game uses. It will do this by downloading the .dlls from the website. Once you select this menu item, you will need to select the build to update to. You most likely will want to update to the daily build (currently this is the only option, but this may be expanded in the future): When updating, the output window will show you which libraries have been updated.
