"Starting on 31 January 2017, AdWords will no longer support the creation or editing of standard text ads."
So what does this mean? Your old ads won't be showing any more? They'll all disappear from your AdWords dashboard?
No, all it means is that you won't be able to create any new ads in the old ad format or edit them (hope that makes sense!). But why would you want to anyway?
As I mentioned in a previous post, the new format allows you to put a load more information into your ads, and take up more real estate at the top of Google, so if you haven't updated your old ads, you might just want to DO IT NOW!