Q: Will Live type disappear when I upgrade to Lion?

I bought a Mac Pro in 2011 with Snow Leopard pre- installed. The nice Genius Bar folks migrated all my files and apps from my old computer's drive to the new one, so the fcs with Fcp 7 was on there, along with Live Type.

I have not upgraded to another operating system since, because I heard that Lion would not support Live type.

Now, because of needing to upgrade other software, I have to upgrade to at least Lion, and possibly, Snow Lion.

Been doing research on here and other sites.  But, my question is this-  if I already have the software on my drive, and just upgrade via a download from the App Store, will Live type still work.  Is the issue more installing it onto a  Lion (or above) based hard drive?

Any advice would be appreciated.  I have lots of titles that occasionally need tweaking.  I need to keep Live Type working.

thank you!