I know when you click on Check for Updates you are supposed to see which applications and plugins are out of date. This works fine for the core IPS applications, but for whatever reason it doesn't seem to work for third party products. So the only way I know of to check for out of date third party products is to go to my Applications and Plugins pages and compare what I have installed to those in the Marketplace. I print out my Applications and Plugins pages and then go into the Marketplace