Gutpunch - you don't get a new app, but if the upgrade worked you should have the "full" functionality within the Lite app - the upgrade button should be gone and you can now edit recipes, profiles, etc... in fact it is identical to the full app, except it still has the "lite" icon on the launch bar.
Banesong - Go to Google Play and update your app from the store. I had a bug last night that caused problems licensing across multiple devices but corrected it today. If you get the latest version (2.1.49) and click on the upgrade button again it should pick up your license purchase and upgrade it in place without charging you again.
Brad