11:08:54 [WARNING] Vault 1.1.9 is out! You are running 1.2.0
11:08:54 [WARNING] Update Vault at: http://dev.bukkit.org/server-mods/vault

Should I downgrade it then?

this happens if you're continually downloading the dev builds before we upload them to dbo. Ignore them if your version > dbo version. Just means the file hasn't been approved yet.

I understand now. Thank you :-)