I moved this out of one of the implemented suggestion threads since it doesn't pertain to that specific suggestion.
I am not sure what you mean by "Have any effect". If you are asking if it will BREAK anything, the answer is no. There are A LOT of changes (tons of programming code, tons of template edits, lots of new phrases etc), but you will be able to upgrade and not have to do anything with any of the new options or setting or permissions, they are all optional.
What you should do tho is edit any legacy pools and set an Commissioner (even if its just you) as in future versions of Pickem, its going to be a requirement (its a soft requirement now as any new pools created will automatically set a commissioner and you can unset it. Only legacy pools currently won't have a commissioner set.