Processes in Microsoft 365 for setting up Office apps, redeeming product keys, and activating licenses.
Yes, as Brian said, you can. Here are the guidelines to making it work. I've been doing it since Office 2007 beta was released:
Working with Multiple Versions of Office (Dual Install)http://pubs.logicalexpressions.com/pub0009/LPMArticle.asp?ID=762 Upgrade Office 2003 to 2010 on XP in Photo or Run them Side by Side http://www.howtogeek.com/howto/17342/upgrade-office-2003-to-2010-on-xp-or-run-them-side-by-side/#comment-107651
Information about how to use Office 2010 suites and programs on a computer that is running another version of Officehttp://support.microsoft.com/kb/2121447
For a 2007 Microsoft Office version of this article, see928091 (http://support.microsoft.com/kb/928091/).
Supplemental instructions
Microsoft's recommendations are incomplete regarding Word - seehttp://www.gmayor.com/Toolbars\_in\_word\_2007.htm for further recommendations with regard to shared resources that are better not shared.
Excel works better also if its startup folder is not shared.
In the case of Excel I would relocate the contents of the (Excel 2003) XLSTART folder to a new sub folder of the existing XLSTART -The start-up folder location is stored in the registry at
HKEY_CURRENT_USER\Software\Microsoft\Office\11.0\Common\Xlstart
Set the value to match the sub new folder name e.g. Office11XLSTART. That should sort out Excel 2003. Create a similar sub folder and registry entries for Office 2010 i.e.Office14XLSTART and at HKEY_CURRENT_USER\Software\Microsoft\Office\14.0\Common\Xlstart
However, you may not have, unless you are a "belt and suspenders" type and want no question. 2010 can create 2007 and 2003 format files which you can use for your testing.
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Link to: Silverlight Applets Mapping 2003 Menu to 2010 Ribbon for all Office Apps
Link to: Search for 2007 Commands addin PS: MS WHERE IS THE 2010 VERSION!?!?! HintHint!
Link to: Flash Applets Mapping 2003 Menu to 2007 Ribbon for all Office Apps