Mr Baheesh -
The ADS1298ECGFE-PDK does not support real-time data in the software/firmware. The hardware is capable, but you would need to write your own code or modify the existing code.
The saved file is a text file format, so as long as MATLAB can read the file, you should be fine.
The current version of ADS1298ECGFE-PDK, shown on the product page, is the latest.. We do not have any plans to change or update anything on the current hardware/software.