Unity Pro project to unity free?

Soo i’m helping my bro out with unity3d(he wants to make a 2d platformer)

Now i have a unused project that i done while back using unity3d pro.

Is there any stuff i need to look out for to make it work in unity3d free?
Or can he just import it and let unity3d remove(disable) the pro features by it self?
Things like: illuminating textures,light probes,image effects ect(mostly visual features).

Also, is there a way to use different versions of unity3D without license conflicts?
I want to use 4.3 free( i dont have a license my self) on my working machine so i can work on my own projects in my free time (And release them my self).

So far when i want to use unity 4.3(my copy) on the same machine as unity4.5 pro(work copy) i get some sort of licence conflict.

You can just import and it will work except for the Pro features which will show an error in console.

For instance, if you were using Movie texture, you won’t see them, they will simply not show in the game and you will see an error stating MovieTexture is a Pro only feature. The rest will work as expected (Except if the pro feature generates a chain of errors that would crash).