You get an email and a notification within Leanpub (the bell at the top right corner) if the author chooses to send an email to their existing readers when publishing.  This way, an author can publish minor edits without bothering readers, and still let the readers know when a meaningful update is published.
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We recommend authors email readers no more than 2 or 3 times per month, to prevent email overload.
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Regardless of whether the author emailed readers, you can always download the latest version from your Leanpub library.
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In terms of refund terms, we offer a 60-day 100% refund if you are unhappy. There are no refunds after 60 days.  So, if you haven't gotten your money's worth in that amount of time, and you do not expect the situation to change, please go ahead and get a refund!