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I tried it today morning (by doing an upgrade from 11.04) and the unity panel kept restarting every two seconds.

Don't try it without a backup yet.

Upgrading like that may cause some issues (I had issues upgrading from 10.10 to 11.04) so maybe doing a fresh install would make it work better.

Well I had very similar (or worse) problems when upgrading from 10.10 to 11.04, but when they released the Narwhal, the update went smoothly.

It's quite a difficult task to provide the update facility, last time I checked, Linux Mint recommended doing a full reinstall.