If it needed to update (or) if there was a security risk, you wouldn't be able to use it. Tripwire would be active or the bot wouldn't be able to attach to the game client.
Hi, DarkestBuddy, You should not be using outdated version of Honorbuddy. Also, this article should answer your question in detail: BosslandGmbH:HelpDesk:Is Botting Safe? cheers, chinajade