The version may or may not have an affect on the stitching of a design. You may find what version your machine is on the machine, Look in your manual for the correct path to that information. If you are concerned that you are using v4 on a v1 machine, you may change the file by using wilcom and save as, when you get to the remember hoop screen, make the adjustment. I have not paid attention to the version # and though I have a v1 machine, have not experienced any problems. I'll let you know what else I find out. have fun!
Do you use the PED Basic Box with your Brothers machine? If so which ever version that will show up on your computer in the PED Basic. I have downloaded the free program My Editor & Wilcom True Sizer. In the My Editor I am able to change a PED design that will not show up in my PED Box to a PED Basic so that it will show up. Found this out quite by accident.
The older your machine the lower your pes version number is. There is a way to tell what your machine takes but you have to read the manual to figure it out. If you have had upgrades you could have a higher number than originally used.
The pes designs don't say pes v1 or pes v4 unless the digitizer has kindly added that information. Otherwise the icons look the same, at least in my software. It goes up to version 9 now. My machine takes 5.6 and anything lower. If I download a 6.0 or higher then it won't show up or work for me. I have to convert it to my format.
Conversion software is available free but I can't swear by the new versions since I recently tried to download them to a new computer and could not tell what version of pes I was converting to. My older Pulse Ambassador gives me the option of converting to 1.0, 2.0, 4.0, 5.6, and 6.0. The new Pulse Ambassador I couldn't figure out at all. The new Wilcom Truesizer gives you the option of picking what pes version you are converting from but not to.
Links to the software are in this post I linked for you.
When I first turn my machine on I believe there is an option to check the operating information.
The Truesier does not let you but the My Editor will change the Pes to other Pes or any other format.
Those are different versions of the program. it depends on what version of a program you have as to which is best for you. I have a viking and just got a brother, so I save in vip and hus first then pes. My software allows me to change the design to what format I need so I can use other as well it is just better for thread colors if I pick what my software wants.
oh I should add that newer version software will usually open all the previous versions. It just doesn't work the other way around, Older software will not open newer versions.