The "update ready, click here to install!" green button in the windows desktop version doesn't do anything when clicked, so I can't update.
I have the same problem, since at least 4 versions...
The solution for now is to close the client after the download, go to the My Colony\ folder (with the save games, in your user documents), and manually launch the setup.
thanks, worked, tho it gave a weird DLL missing error the game launched updated after a reboot.
The other update after that had the same problem and the same solution; Ape-apps still hasn't fixed this very annoying bug.