Updating Child Version

Hi! I’m using the free version of Virtue and am a little confused on updating child themes and templates. Do I need to update the child version? If so, how do I do that? I’ve read that I do and I’ve read that I don’t.
I just wanted to be sure as I’m fairly new to all of this.
Thank you so much!
https://www.sleeneys.com

### WordPress Environment ###

Home URL: https://www.sleeneys.com
Site URL: https://www.sleeneys.com
WC Version: 2.4.3
Log Directory Writable: ? /home2/sleeneys/public_html/wp-content/uploads/wc-logs/
WP Version: 4.2.4
WP Multisite: –
WP Memory Limit: 40 MB – We recommend setting memory to at least 64MB. See: Increasing memory allocated to PHP
WP Debug Mode: –
Language: en_US

### Server Environment ###

Server Info: Apache
PHP Version: 5.4.43
PHP Post Max Size: 50 MB
PHP Time Limit: 30
PHP Max Input Vars: 1000
SUHOSIN Installed: –
MySQL Version: 5.5.42
Max Upload Size: 50 MB
Default Timezone is UTC: ?
fsockopen/cURL: ?
SoapClient: ?
DOMDocument: ?
GZip: ?
Remote Post: ?
Remote Get: ?

### Database ###

WC Database Version: 2.4.3
:
woocommerce_api_keys: ?
woocommerce_attribute_taxonomies: ?
woocommerce_termmeta: ?
woocommerce_downloadable_product_permissions: ?
woocommerce_order_items: ?
woocommerce_order_itemmeta: ?
woocommerce_tax_rates: ?
woocommerce_tax_rate_locations: ?

### Active Plugins (18) ###

Akismet: by Automattic – 3.1.3
Black Studio TinyMCE Widget: by Black Studio – 2.2.5
Child Theme Configurator: by Lilaea Media – 1.7.5.1
Contact Form 7: by Takayuki Miyoshi – 4.2.2
Google Analytics Dashboard for WP: by Alin Marcu – 4.8.1.3
Hostgator WalkMe Plugin: by Snappy – 1.0
Homepage Control: by WooThemes – 2.0.1
Jetpack by WordPress.com: by Automattic – 3.6.1
MOJO Marketplace: by Mike Hansen – 0.7.1
Regenerate Thumbnails: by Viper007Bond – 2.2.4
Page Builder by SiteOrigin: by SiteOrigin – 2.1.4
Storefront Jetpack: by PootlePress – 1.0.0
Stripe for WooCommerce: by Stephen Zuniga – 1.38
Virtue / Pinnacle ToolKit: by Kadence Themes – 3.1
WooCommerce Google Analytics Integration: by WooThemes – 1.3.0
WooCommerce: by WooThemes – 2.4.3
Yoast SEO: by Team Yoast – 2.3.4
WP Super Cache: by Automattic – 1.4.4

### Settings ###

Force SSL: ?
Currency: USD ($)
Currency Position: left
Thousand Separator: ,
Decimal Separator: .
Number of Decimals: 2

### API ###

API Enabled: ?
API Version: 3.0.0

### WC Pages ###

Shop Base: #5 – /shop/
Cart: #6 – /cart/
Checkout: #267 – /checkout-2/
My Account: #8 – /my-account/

### Taxonomies ###

Product Types: external (external)
grouped (grouped)
simple (simple)
variable (variable)

### Theme ###

Name: Virtue Child
Version: 1.0.1436228276 – 2.5.1 is available
Author URL:
Child Theme: ?
Parent Theme Name: Virtue
Parent Theme Version: 2.5.1
Parent Theme Author URL: https://kadencethemes.com/
WooCommerce Support: ?

### Templates ###

Overrides: virtue/woocommerce/archive-product.php
virtue/woocommerce/content-product.php version 1.6.4 is out of date. The core version is 2.4.0
virtue/woocommerce/content-product_cat.php version 1.6.4 is out of date. The core version is 2.4.0
virtue/woocommerce/content-single-product.php
virtue/woocommerce/loop/add-to-cart.php
virtue/woocommerce/loop/loop-end.php
virtue/woocommerce/loop/loop-start.php
virtue/woocommerce/loop/price.php
virtue/woocommerce/loop/rating.php
virtue/woocommerce/loop/sale-flash.php
virtue/woocommerce/single-product/add-to-cart/external.php
virtue/woocommerce/single-product/add-to-cart/grouped.php
virtue/woocommerce/single-product/add-to-cart/simple.php
virtue/woocommerce/single-product/add-to-cart/variable.php version 2.3.0 is out of date. The core version is 2.4.0
virtue/woocommerce/single-product/price.php
virtue/woocommerce/single-product/product-image.php
virtue/woocommerce/single-product/product-thumbnails.php
virtue/woocommerce/single-product/review.php
virtue/woocommerce/single-product/sale-flash.php
virtue/woocommerce/single-product/share.php
virtue/woocommerce/single-product/short-description.php
virtue/woocommerce/single-product.php
virtue/woocommerce/taxonomy-product_cat.php
virtue/woocommerce/taxonomy-product_tag.php

: Learn how to update outdated templates