You cannot open projects created in Studio in Liquid.
There are major differences between the programs. For the most part, Liquid is more feature rich and is a professional level editing applications. Unlimited audio and video tracks. No dedicated title tracks, 2D and 3D editors, much more robust audio features, full screen previews at full resolution, etc, etc, etc.
Make sure before you consider upgrading that your system is Liquid capable and not the minimum specs. The information you need is here. You can also download a trial version of Liquid here.. This is an earlier version and Liquid has improved considerably since this was released but it will give you an idea of the interface and features although it is not fully functional.
There is a learning curve when moving from Studio to Liquid. The timeline and other features of the interface are significantly different.