It should be fine, but it's a pretty big jump from 1.2 to 1.3.2... You should copy your project and do a test, see if everything is still working as expected... There is a known issue in 1.3.2 with sending events after loading levels. It's fixed in the 1.3.3 beta if you run into this problem...
Anyway you should *always backup* projects before I porting any packages into Unity. Better still, you should be using version control, so you can really see what changed, and revert if necessary...