The update process with OpenAid is the same as process as updating modules on a standard Drupal site. Note that contributed modules for OpenAid live in profiles/openaid/modules/contrib rather than the common set up sites/all/modules/contrib.

OpenAid does have regular updates, oftentimes to keep up with security releases of Drupal core and contributed modules, however, OpenAid site maintainers are encouraged to update modules (especially those with security updates) as updates become available rather than waiting for a new release of OpenAid.

Further Reading: Updating Modules