Yes, right now you can upgrade it to 4.16 no problem (dev version is already 4.16 with no changes). 1.1 (next) will have native touch support and be 4.16. There are instructions on how to add touch support to the current version in this thread as well.
BTW, if anyone has any requests, other than what we have coming in the 1.1 update, please let us know.