We design all major versions of our products to install without overwriting your previous versions. This means, for example, you can run Ozone 6, 7, and 8 all on the same computer at the same time without causing problems.
We do this because frequently we will substantially change the DSP from one version to the next, and we do not wish to adversely affect any sessions that may have been created with earlier versions of a product.
In most cases, the newer version of a product can open the old products presets. However, this is not always the case, so you may want to consult the product documentation or feel free to e-mail us with any questions on this topic.