During the Vue 2014 install, the installer should see your old content library and it will ask you if you want to use it in Vue 2014.   Answer yes.

     I've never attempted to update my content.  I probably should.  I'll let a wiser Vue "old hand" advise on that.

     The current version is 2014.5, and if you network render (sure speeds rendering up!), be aware that networking functions in 2014 but fails for some scenes in 2014.5

     I don't know what factor(s) trigger the 2014.5 network rendering failure.

Poser 12, in feet.  

OSes:  Win7Prox64, Win7Ultx64

Silo Pro 2.5.6 64bit, Vue Infinite 2014.7, Genetica 4.0 Studio, UV Mapper Pro, UV Layout Pro, PhotoImpact X3, GIF Animator 5