If you already have the FSDT Live Update, it means you must have already installed any of the new installers so, the migration process (moving all the sceneries to the new Addon Manager folder) and the Live Update for all of them should have already happened.
Running Live Update again, would check all the installed products, and will update them all at once.
We are still missing the latest bit, which is the notification system that will *tell* you if there are any updates, but we plan putting it back online soon so, for the time being, you will have to run the Live Updater manually, but there are not notifications yet.