Well, no. My version's readme (in the archive with the installer) goes as follows:
>Latest version of the 0.10 English translation as of April 11th, 2008. Fixes one known crash bug as well as various non-critical issues. Saved games from the first installer version are compatible, but saved games from the previous non-installer version and the Japanese version are not. To update the previous installer version, install v3 into the same directory.
Sei do something!