When your license expires, you will stop receiving updates but can continue to use your current version. If you install a version of Bodo released after your license expiry date Bodo will ask you to downgrade to an older version, or to purchase a new license at a discounted price to get another year of updates.
We believe this combines the best of both worlds:
If you would rather not have to worry about updates at all, we plan to offer a subscription via the Mac App Store.