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So it looks like there was an update to the league of legends script on May 11.  I've been running LoL on playonlinux for a while.  Do I have to do anything to get the new script, or does it download and update automatically?

Scripts are never cached, you get the current version each time you do an installation.

So to be clear, if I want to use the new script, I must reinstall league of legends?

Yes, this is an installation script after all.

But now that I checked there was no update on May 11th:
http://www.playonmac.com/en/changelog-1135-League_Of_Legends.html

Could you explain why you were interested in a script update, maybe I can help?

My bad. The script was actually on May 7th. I've been having some fps issues on the 3v3 map, and the ARAM map, so I thought any recent scripts might be able to help fix that :)

And as you can see there's nothing performance-related in this May 7th change.
There's some threads on LoL optimisation here, don't know if it helps. Nice to see this game can work on Intel cards, though.