Although the documentation for this option says that this applies only to VC, it seems to work for me within C#, VB, and C++. Maybe because I have them all in one solution? Not sure.

This blog post has moved to http://saraford.net/2008/10/03/did-you-know-you-can-specify-whether-to-run-old-version-when-a-build-fails-327/