Can Unity-4 work on the same project with Unity-3.5?

After installing Unity-4 (build 5), I committed a changed prefab and a changed .unity scene file. After that, my coworker using Unity 3.5 couldn’t open the scene and couldn’t see any script attached to the prefab.

Has anybody else had this problem? Anybody successfully used a copy of Unity-4 and Unity-3.5 in the same codebase?

You cannot mix and match Unity versions. Everyone will need to use exactly the same version.