Works fine for me!
BUT, if some of the plugins don’t work in CS4, you CAN’T open the project correctly and use CS4’s tracking. It’s one or the other. Not both!
And you probably can’t open CS4 project in CS3.
Also you need to install your plugins (the ones that DO work) in the CS4 folder.
Also when opening in Windows by double clicking, it opens the one windows has set as the default. By right clicking and then “open as” you can use the version of your choise.
Good luck