I dont think so. Because I haven't made any changes in that template.
Only two templates are modified in most of my themes so basically the theme should function without any problems on ips 4.4.
Anyway, To fix this issue you need to open lkeyWarning Template and revert it back to default.
like this
Again, you shouldn't really have to update your website yet 🙂 ips 4.4 might take a month for the stable version to be released. and even then you might need to check if your apps, plugins are ready.
I suggest you to disable development version updates in your Live site. 🙂