Does it pose a security risk if I don't update Adobe Air for use within Zinio Reader 4?

On my computer, I have an application called Zinio Reader 4 which uses Adobe Air,  and the Zinio people advised me not to update Adobe Air any more when new updates come out,  because updating Adobe Air could cause the Zinio Reader to not work any more.  I then asked them would this pose a security risk for my computer,  and they responded that I should contact Adobe directly.  I set up a chat session with Adobe and was told that support for Adobe Air is available on Adobe Forums and to go to forums.adobe.com for any support.  So that's what I'm doing here is posting this question on Adobe Forums to ask my question:  Does it pose a security risk if I don't update Adobe Air for use within Zinio Reader 4?   If it does pose a security risk,  would it still pose a security risk if I disconnect from the Internet before using Zinio Reader 4?