Since The7 v.5, updates for bundled plugins (Visual Composer, Revolutions Slider, Ultimate Addons, Go Pricing table, etc.) are delivered regardless of theme version.
Please make sure your theme is registered. Then navigate to Dashboard -> The7 -> Plugins, you will get “Need updating” status if there is any update available, hover on them and click update (fig. 1).
Please read about bundled plugin activation here.