I am in the middle of a kobold2d project and I am using kobold2d 1.1.2. Is it possible to upgrade my project to kobold2d 2.0.3 I know that the newer version uses opengles 2.0 and cocos2d 2.x. So my question is would I be able to upgrade without having to change things in my project?
Realistically, no. There were many API changes going from cocos2d 1.1 to 2.0. Although most of them are simply fixed by renaming things.
In any case, the Kobold2D Project Upgrader tool will make a copy of your project, so why not give it a try and see how many and which errors you get?