Sure, it's possible. However, you might need to follow specific steps provided by the software developers and also be aware of any potential issues or differences in features after the upgrade.
Definitely not. Manga Studio is focused mainly on creating manga-style art, while Clip Paint Studio offers a broader range of features for various types of digital painting and illustration. They have different tools and interfaces.
Clip Studio can open Manga Studio files for the most part. But sometimes, file corruption or unique settings in the Manga Studio file could cause problems during the opening process. It's recommended to make backups before attempting to open.