The change from 1.1.0 to 1.2.0 includes more than just new features. It also have various bug fixes that can be somewhat critical under various circumstances. Not to mention that if you do not upgrade properly then there is no guarantee that you will be able to upgrade to future versions correctly.
The upgrade to 1.2.0 is very quick and painless. It does not modify any existing TR templates (if that is what you are concerned about).
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