About piont 1: I understand your suggestion and it might have been a good idea to start like this 9 years ago, although I am not even sure about this. I think it is still easier to understand that higher version numbers are higher... 😉
But I definitely don't think it is a good idea to change the behavior now. It's not only the object browser but also Control plus Studio that is affected by such a definition. And as object definitions are often usable by many OES/CpStudio versions it is impossible to get a consistent behavior in all tools if we change this definition.
So, the way Thorsten suggested is the right direction. About incompatible versions: Yes, the test version needs to show the incompatibility as well. For instance, when you are planning to move from 1.2.3.0 to 1.3.x you should start the test versions at 1.3.0.1. This means that the first release will be 1.3.1.0. That way, 1.3.0.0 will never exist, but I don't see a technical problem with that.
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