no, the cr2 is not updated.  it was last changed in 2008.  and it doesn't have any extra channels at all.  it has readScript references that point at the scripts in the !DAZ folder which either create channels or point at other files that create channels.

in other words, it has lines like this:
        readScript ":Runtime:libraries:!DAZ:Victoria 4:V4chestChnnls.pz2"

and that file has references to other files in the chest sub-folder.  that's what's puzzling me.  sure that file needs to change when there's a new add-on, but as far as i can tell the base V4 install doesn't do that.  in fact, i'm guessing that what "initialize" does is make sure that all of the different base files reference the right number of files in each folder.  so it has as many new channels as you or i have add-ons. 

i understand how an add-on seems to work.  what i don't understand is why this would mean you need to update the base at all.  and so far, i'm not finding what got updated in V4. the only files that have a recent date have the install date, and those are the files that just point at the other specific add-on files.  and i could see the base V4 install being the one to change those files and add the reference to the new add-on files (it would be annoying, but i could see it), except it doesn't seem to add anything that isn't there yet.  afaik, the process for installing Stephanie was to update V4 base first. and those files only update to include new add-ons when the new add-on is already there.

and here's another anomaly: i just went through the whole annoying process of loading all my morphs into one figure.  it's a real PITA because most custom character morphs come with some Morphs++ settings which need hunting down and turning off (i just want the ability to morph, not the preset).  and a few involve morphs that are only accessible in the body part.  anyway, i managed to add all the morphs without having any of the Version 4 morphs or scripts in my main runtime.  i just tried loading them, to see what would happen, and it worked.  only the Posermatic NGM morphs needed me to say where something was.  i've tested them, and they seem to work fine.  i have no clue why.