No, it does not matter, the structure is built into Windows, and if your version of Windows does not have a framework for VS, which you install VS, it will be installed for you. Just make sure after updating Windows.
The frame was built to work side by side.
I am currently running Visual Studio 2003,2005 and 2008. I have installed builds 1.0.1.1.2.0.3.0.3.5.
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