Hi bushel - Welcome to w7forums
I have had 3 different Windows 7 versions installed at once. To be honest they still are because I havent done my cleanup yet to remove the versions I don't want.
There is always a chance you will have problems if the install is not done right.
- One if you install without changing your active partition then your boot files for both installs will be placed on the very same partition.
- Two if you are installing a different Hard Drive, you will need to change your bios boot options to boot from the new drive aswell.