Sorry for the late reply,
You just go back to http://themeforest.net/item/circle-flip-responsive-multipurpose-theme/8107961 where you should find a download button instead of the Purchase one.
Re-download and upload the theme replacing all old files.
It doesn’t remove your saved settings, but it’s always a good idea to backup your database and Theme Options settings.
One thing came out good of my late response, Circle Flip Version now is 1.6