Child Theme of a Child Theme

I’m curious how this child theme will work with future updates of it. In other words, I make a child theme for each of the themes I use so updates of the parent theme will not affect my settings – so if this is a child theme how do I, if possible, create a child for this (Liquido) child theme? If there are future updates to Liquido, will my settings be overwritten?

The page I need help with: [log in to see the link]