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This seems to be a common point of confusion. The "FMw Upgrade Assistant" is a utility which helps you to upgrade the entire Application Server installation to a newer version (e.g. 11.1.x). This has nothing to do with your Forms (fmb, mmb, pll, etc) or Reports (rep, rdf, etc) applications. Generally speaking, I would say that using the UA is not necessary and likely should not be used in most cases. Cases where it should be used might include a situation where your previous version has been significantly customized and you don't know how or don't want to make the same customization in the new environment manually. Whether you are talking about a new product (Oracle or not) or even a new OS, generally your best bet is to start with a clean, new installation. Attempting to upgrade an existing version always comes with problems. Just one man's opinion ;-)
As for your Forms application(s), there is a Forms Migration Assistant (FMA), explained in the Forms Upgrade Guide:
That said, just like using UA, it is always better to take the extra time and not rely on such tools if they can be avoided. In most cases, the FMA will not be needed. This is especially true if your application is coming from version 10. For older versions, using FMA might be beneficial.
So, to the point, in order to move a Forms application (fmb, mmb, pll) from version 10 to 11 is as simply as recompiling your modules using the v11 compiler. That's it ;-)