2 'different' versions of FCP on same computer, possible?

I'm cutting a show on the pre-Intel FCP, latest version, installed on the full edit suite.
I want to do some extra work on my laptop, which has the Intel version of FCP installed, but need to use the prior version of FCP (to be able to move the project back and forth).
Can I install the previous version of FCP (non-Intel) on my laptop SIMULTANEOUSLY with the Intel version, and just open whichever I need to use? Or am I looking for serious trouble doing that?
Thanks,
Ben

I have FCP 4.5, 5.0.4, 5.1.1 and 5.1.2 on my system...all separate applications. I do this so that I can work on projects created with the previous versions and not update it and make it unusable by the original party.
For example, I am currently cutting a show using FCP 5.0.4, even though I have 5.1.2 on my system. I open the 5.0.4 application, THEN open the file and all is well.
Shane

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