No, you have to save them before the update, then load them back afterwards. The update puts 52 new styles in USER locations. I found I only would use one or two of them so loaded by Favorites back.
If you have user styles in Factory locations, you have to Unprotect them before saving.
Thats one of the kool features of using a Korg arranger...you can change so many things and make the KB exactly how YOU like it...
I wish Yamaha would allow factory style replacement also....
maybe GENOS or BK10?