Media File Not Found After Update to 7.3.9.727

We recently updated our FV player and FV player Pro plugins from version
7.3.6.727 to 7.3.9.727.

After the update the video player says it cannot find the video files
anymore. We are using Amazon S3 for our video files.
Also, we are using the old shortcode format, for example [fvplayer
src="https://s3-url/file.mp4" speed="no" qsel="true"
splash="https://url-to-image.jpg" lightbox="true;730;380"] for videos
and [fvplayer src="https://mp3-file" skin="custom"] for mp3.
Can you tell me why the files cannot be found anymore? We noticed that a
video added using the new shortcode format works.

We noticed in a forum post here:
https://wordpress.org/support/topic/new-shortcodes-do-not-work/ that you
are advising users to stick to older version of Fvplayer plugin for the
old shortcodes to work.
We would definitely want to be able to upgrade our plugin to new
versions, but at the same time we have shortcodes in this old format
added to many of the posts on our site and because we use custom skin,
we find the library/database for shortcode options quite limiting for
our purposes.
It is possible that we just don’t know how to use the new system
properly, but we do find it to be much more simple for us to use the old
shortcode format.

Questions:
Is it intentional for the old shortcodes not to work anymore or is this
a bug?
If this is intentional, and since all of our posts contain shortcode in
old format, how can we convert them to the new format without going
through every single page?
How can we customize the skin using the new format?
If we have to stay with an old version because of this problem, how is
that going to impact our use of FV Player/FV Player Pro going forward as
we constantly upgrade our WordPress and other plugins?

Thank you very much! :)