Multiple Versions of Excel installed and using BPC

Is it possible to have Excel 2003 and 2007 installed on a users desktop and have BPC work properly?  We have some users that want to retain 2003 on their computers but are experiencing issues.

I know from working with our consultant that it isn't recommended but this group has some software that requires it to have 2003 available for at least a while longer.
The specific issue that prompted my question:
User has the Log on/ Log off button when in Excel 2003 but does not have it available in 2007.  She wants to create templates using 2007 but cannot access it.
This is a new group of users for us and they are the only group that wants to maintain both versions.  Since we are seeing this issue and we know it isn't recommended, I am trying to get in front of the issue to identify what other problems may arise and if there is a way around it?
Thanks,

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