I purchased a valid license for Family Book Creator. What happens if I upgrade to FTM 2017?

The bad news is that you need to install Family Book Creator 2017 to be able to use Family Book Creator with Family Tree Maker 2017. The good news is that the serial number you received after licensing your Family Book Creator installation does work with Family Book Creator 2017 as well.

All you will need is the proper installation package for Family Book Creator 2017, which is available inside the FBC Download Area right now. The installation files for Family Book Creator 2017 can be found together with the user manual at http://www.familybookcreator.com/media/files/downloadarea_en.html

Note: Right now there are no feature differences between Family Book Creator 2012, 2014 and 2017.
The Family Book Creator license is valid for Version 2010, 2012, 2014 and 2017 of Family Book Creator. Family Book Creator 2017 does support Family Tree Maker 2017 published by the Software MacKiev company.