Windows 7: Virtualbox 3.2.1 AND 4.x.x on same system?

I'm running ShadowProtect 4.1.5 for backups. I like to VirtualBoot to make sure that the image will actually boot without having to destructively restore over the current boot drive. The VirtualBoot feature uses VirtualBox 3.2.1 to boot the image in a virtual drive. It does not work with a VB version higher than 3.2.1.

For that specific purpose, it works fine. But, it's not ideal for playing with current linux distros.

So, my question is: if I install VirtualBox 4.x.x to a different directory than 3.2.1, will one interfere with the other? Or would I be better off using VMWare for other virtual machines?