Update or patch those where security issues are found. That's what I would recommend to do at the least. Most of my clients end up having the mods customized one way or other, so updating each time a new version is released would be quite a hassle, but as long as you understand the implications and patch or update the mods as and when required, you should be good to go. You do have to keep track of things, especially security vulnerabilities related to the mod and forum software itself.
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