Generally speaking, here are the rules:
First, remember that firmware upgrades and Designer programming software are FREE. However, that doesn't mean that you MUST upgrade (we understand not every system needs/should/can be upgraded, but I am just pointing out that this is different than some vendors who require an exchange of $$$ for the opportunity to get their bug fixes, er, upgrades).
Second, Designer will always be able to upload OLDER projects from the PLC. As long as you don't add any "features" to the project that are incompatible with the OLDER PLC's firmware, you should be able to DOWNLOAD the project to the OLDER PLC. If you attempt to ADD a NEWER feature to an OLDER uploaded project, Designer will WARN you, and DOWNLOADING will be DISALLOWED.
Third, if for whatever reason you MUST maintain 1.0 projects and 1.1 projects and 1.2 projects and... (e.g. FDA requirements, system integrator w/multiple customers/projects, etc.), Designer 1.1 installs "side by side" Designer 1.0 in two different installation folders, two different .INI files, two different project folders, two different icons, etc. So you can maintain version consistency across all your projects and PLCs if necessary.
Hence, the only planned limitation is that OLDER Designer versions may not be able to understand/upload projects in NEWER PLCs (e.g. a 1.1 instruction in a 1.1 PLC can not be understood by Designer 1.0). However, NEWER Designer versions should always be able to upload projects from older PLCs and with enough care, should be able to download to older PLCs (see the previous caveat).
Lastly, to help differentiate FEATURE SET/SPECIFICATION VERSION from the software and firmware versions, we have defined the term "Do-more Technology Version" to define THE CONTROLLER'S FEATURE SET. So, this latest version of Designer and firmware support Do-more Technology Version 1.1 (the initial release last fall was 1.0). The Do-more Technology Version may or may not be bumped with each subsequent Designer release or subsequent firmware release, although the SOFTWARE and FIRMWARE versions WILL be bumped.
For example, the next version of Designer, 1.2, is planned to NOT bump the Do-more Technology Version (1.1), because we are not planning on adding any new PLC FEATURES. The firmware version may need to be bumped to handle any "anomalies", but that will not cause a bump to the Do-more Technology Version (1.1).
The Updates.pdf file goes into a little more detail about the Do-more Technology Version.