While there are some minor changes due to updates to parameters in V3b16, all of my V3b1 presets were still there after updating to V3b16. I did have to make a few (very) minor changes, but nothing major. So, your presets *should* be safe. For insurance, I had all mine written out on paper (actually a MS Excel spreadsheet… I uploaded a template for this to the preset sharing thread, if anyone's interested).

Technically, there may have been some changes to the pedal's operating system necessary for the new version of FactorLib to work. I really don't know, but I could see it going either way. Still no official word from Eventide on this, though…