Ambiguous

At the moment the articles says "You can perform the upgrade a maximum of 3 times." Now does this mean you're only allowed to attempt it 3 times or does it mean that you can try as many times as you want until you get to an upgrade level of 3? Also this isn't really ambiguous in the article, but after you start doing special upgrades, that specific equipment can no longer be put on pets and can only go in the bank right?

It means your weapon can reach a maximum of +3. You can use as many attempts to get +3, but once it's +3, it stays there until next update.