Just install the newer version, it will uninstall the existing version and install the new one. Your virtual machines will be unaffected, but you might want to update VMware Tools inside them.
VMWare question - by alegator on 02-04-2009 at 11:32 PM RE: VMWare question - by Ezra on 02-04-2009 at 11:38 PM RE: VMWare question - by lopardo on 02-05-2009 at 12:13 AM RE: VMWare question - by alegator on 02-05-2009 at 12:27 AM