Yes, you need to upgrade to PasswordWallet for Mac OS X 4.8.5

If you’re running Mac OS X version 10.9 or later and PasswordWallet 4.8.4, it is critical that you upgrade to version 4.8.5 of PasswordWallet for Mac OS X.

We have two problems in version 4.8.4:

1. Our automatic update mechanism fails silently.
2. A few hours ago we discovered an inadvertent security hole and fixed it immediately.

Please download and install the latest version of  PasswordWallet from the URL below.
These issues only affect users of PasswordWallet 4.8.4 for Mac OS X.  If you’re not running this version that has been out for only a few days, please ignore this message.

You’ve placed your trust in us for 20 years of PasswordWallet. Nothing like this has happened to us before.  We’re contacting you about this problem because it’s the only responsible course of action.  Please accept our apologies.

Sincerely yours,
Sanford Selznick