Jomsocial follow all current joomla versions, so if Joomla suppot that version then Jomsocial will work on it. My advice would be to upgrade joomla and all your extensions then check with your template provider and any other extensions that interact with Jomsocial and confirm there are no issues with 3.2.1.4 which is the current version of Jomsocial
Ant the most obvious thing back up at every stage of the process. You can never have to many backups :)