Do I need to keep updating Armory version and more?
It really boils down to fixes and any upcoming security issue which are announced with the releases, but in general it's a good idea to upgrade every once in a while (at least it will likely make any mandatory update less painful). The updates should usually be less painful than initial install - sometimes no database rebuilds are even needed, and v0.93 rebuild is very fast too.

Note that sooner or later you will eventually need to upgrade Bitcoin core too. It may be running seamlessly from within Armory but you can also choose to run it yourself as a standalone application - either way updates will be required eventually to pick up the latest changes in the network. Armory updates often comes along with Bitcoin core updates as it need to support any Bitcoin core database changes.

Also if you use an offline wallet, there are some limitations in the version delta you can have between online and offline wallets - Armory will normally warn you loud and clear about them.