From your favorite FTP program, delete the folders/files in the following directory:
Then replace them with the folders/files located inside the “revslider” folder that can be found inside the zip file you obtained from your theme’s author.
Note: Export your sliders before updating the plugin. This ensures your previously built will be backed up.
1. Please make sure main theme is activated while performing other steps
2. Go to Plugins page in your WordPress Dashboard, locate Slider Revolution in the list, deactivate it and delete it
3. You will see message that required plugin is missing at the top of your WordPress Dashboard
4. Install the plugin and then activate it
Note: If you got any problems or can not implement the update, please post your problem at http://support.themestudio.net/forums