Upgrading the HomeRunner Toolkit plugin does not delete or reset your Label Designer styles.
Why this happens. Your Label Designer styles are stored in the WordPress database, not in the plugin files, so a plugin update cannot overwrite or delete them. Your label colors, positions, and enabled taxonomies stay exactly the same after you upgrade.
What you can do. You may want to do a quick visual check after the upgrade to confirm everything looks right. You do not need to recreate any styles manually.