All versions of jqGrid inclusive version 4.7.0 was published under dual licensed: the MIT and GPLv2. Once published, the license agreement can't be changes for the version. Thus you can still use it commercially free of charge. Moreover the licenses allows everybody to modify the code if required. One should just not remove the copyright remark inserted by the author.
You should hold new licence agreement of Guriddo jqGrid JS if you use the version 4.7.1, 4.8, 4.8.1, 4.8.2, 5.0.0, 5.0.1. In the case you should pay the charge, described here.
Correspond to the MIT license I made the fork of jqGrid 4.7.0 about one year ago, fixed many small bugs existing in jqGrid 4.6/4.7 and implemented many new features. I publish the product under the name free jqGrid on GitHub. All the published versions (4.8.0, 4.9.0, 4.9.1, 4.9.2, 4.10.0, 4.11.0, 4.11.0 and the current 4.12.0) are available on CDNs (see the wiki article), npm, bower, NuGet and WebJars (see the readme). I publish free jqGrid under the same dual licences MIT and GPLv2 like jqGrid 4.6 which you use now. I just ask to contribute the development by donating via PayPal, if one have the possibility for it (see the readme).
Thus you can either continue to use jqGrid 4.6 or to consider to upgrade to free jqGrid 4.12.0. The most advantage of migration is the usage of alive version. You can report any bug, which you could find, or to post suggestion of new feature as an issue on GitHub.