I apologize if this a dumb question but how do I know which version of StrataFrame I'm running?

Both Greg and Peter are correct.  We have left the assemly version alone as it seems to alleviate a few other issues that creep up when we release new versions.  However, determining the version was also an issue.  So we update the file version and leave the assembly version alone.  Peter and Greg gave you good instructions on how to determine that.  The GAC will show 1.6.0.0 but the file version will give you the actual version that you are on.