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When we mention updates, it is referring to formatting or errata fixes to that edition only. So for instance if you have Network Warrior 2nd edition, and the author releases corrections to the errata or there are formatting updates to the ebook versions, then when we update the ebook we send out an email usually to inform customers to download the "fixed and updated" ebook. This is 100% free.If a new edition were to come out, that is when you would be eligible for the 50% off the new edition's ebook. This is what is generally referred to as an "upgrade" not an "update".
The upgrade offers are detailed here (in the middle tab of 40%- 50% off new editions) https://members.oreilly.com/account/benefits
and the updates are further explained here:
Specifically where it says "When you purchase an ebook bundle you get free updates to reflect published changes and corrections."
So in your case, any updates to the 3rd edition would be free, but if you wanted the fourth, you're eligible for a 50% off discount on it.
Customer Service Rep,