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AFAIK, if you want to upgrade, you'll first need to revert back to the BN v1.2. You can't directly upgrade softrooted 1.2 to 1.4. Reinstall BN's 1.2, then instal 1.4.
the nookdev site probably hasn't softrooted 1.4 yet. It normally take a few days to a week or 2 for them to make 1.4 softroot available. So in the short term, yes, if you go to 1.4 today, you're going to lose the soft root. However, a soft root version of 1.4 may be available in a few days to weeks. (Also, the nookdevs may potentially have a way for you to directly upgrade from 1.2 softroot to 1.4 softroot, without installing BN 1.2 and BN 1.4 first.)
I'm no expert on softrooting, though, so maybe someone else knows something different...
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