I tried to find a way to update my dropbox installation but none of the solutions I found on Internet work.
My system is Xubuntu 12.04 and has
dropbox 1.4.0 installed.
.deb file on the Dropbox web site is the same version.
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As you have latest version of Dropbox, and a newer version is not released yet, you don't have to do anything right now. After the release of a newer version, just try to manually download the .deb of Dropbox and install it with the Ubuntu Software Center or use:
sudo apt-get update && sudo apt-get upgrade