Alert Manager 2010 Version 3.2.2607 Release Notes (February 2012 Update):

http://help.sharepointsolutions.com/products/2010/alertmanager/webframe.html?Release_Notes.html

Download:

http://sharepointsolutions.com/SharePoint-Add-ons/2010-products/Pages/SharePoint-Alert-Support.aspx?productKey=AM2010

After downloading, run the setup executable to install. After installation completes, be sure to run the Alert Manager 2010 Component Configuration Manager and select the Upgrade option.