If you updated your controls by downloading a new setup and installing it, or by running C1Live, the controls will automatically be copied to the right location.
If you downloaded new versions from http://prerelease.componentone.com, then you should copy them to the right location manually, overwriting the old versions:
Program Files\ComponentOne\<PRODUCT NAME>
Once the new version has been installed, you will need to open your projects in Visual Studio, update the .dll references and rebuild the project.
Note: Updates will be easier if you select the assembly reference in your project and then set the Specific Version property to False in the property window. This will cause Visual Studio to use any version of the assembly it can find (the one you just installed), instead of looking for a specific one (the one used when the project was created and overwritten during the update). This will help prevent unlicensed nag screens from showing at run-time.