Hello rducutch,
Thank you so much for using our theme AcmeBlog. No any changes made by child theme will lost after theme update.
You can use all the customizer options even activating the child theme. For using customizer options
Go to Appearance > Customizer.
Please view the theme documentation for further help.
Doc: https://doc.acmethemes.com/acmeblog/
If you have further query please feel free to ask.
Thanks