Yes, both CLRs can be on the same computer - in fact, .NET 4 allows you to have the same process while supporting both CLRs!
Different assemblies in the GAC will have different versions, so if your links indicate a version, the CLR will download the appropriate one. Of course, you need to make sure that you have the appropriate CLR load of the corresponding assembly; while the v4 CLR can load v2 assemblies (with some restrictions, IIRC), you should not try to download the v4 assembly from CLR v2.
As for the reasons why you are having problems, it is really impossible to say without additional information. (Each time you ask a question and you have a mistake, say what kind of mistake it is.)
source
share