So what’s the difference between “Selected Text” and “Word at Cursor” as they both appear to do the same thing ?

BTW, does the new announcement regarding upgrades essentially mean that any licences purchased before 1 November 2011 will get free lifetime upgrades (ie. all major upgrades and minor updates will be free forever) ?

And any licences purchased after 1 November 2011 will get minor updates for free, but have to pay for major upgrades ?