The wiki says it's recommended to save your game at the event "Wither", any reason for that?
The first post says it updates twice every month, does that mean an update will come very soon?
Wither kicks off an event chain that includes a reset puzzle. Having a save game here will help you find the answers to the various questions, as they're almost all within the event chain.
Twice a month is the normal schedule. There are exceptions -- sometimes we get a double-sized update, usually for major events that are larger than a standard update (beach trips, the dorm war, and holiday parties). And if Real Life is keeping Selebus busy, there may be a larger-than-usual gap.
Next update is the Halloween party/Dorm War, and will release to subscribers on the 1st of December.
Next update after that is Chrismas/Beach Trip, and will be released Jan 1.
And someone else mentioned that he's going to be on hiatus around his wedding and honeymoon, so we may have quite a bit of an interruption in the early part of next year.