No you cannot ( and dont need to ) install 2 wamps on the same system.
XAMPP and WAMP wont run together either, well not without making changes to one or the other.
Remember wamp is just a delivery mechanism for apache, mysql and php plus some useful utility mechanisms.
One of these useful utility mechanisms is to allow more than one version of all of either Apache/mysql or php.
i.e. You can have more than one version of Apache or MySQL or PHP.
Left click wampmanager -> PHP -> version -> Get more
That will launch the wampserver homepage. Go to addons and select the php version you want, it will download and install the new version of php. You then just switch between the 2 php versions.
You will probably have to do the same for a newer version of apache as well as the new Apache's and PHP's are now compiled with VC9 and the old versions were compiled with VC6 and Apache and php have to be compiled with the same compiler to run together.
In the PHP addons have the 5.3.1 version of php. I have installed that addons and checked its not working when switch over the PHP Versions from the Wamp.
But i need to install latest php version 5.4.x in my system. i have installed Wamp Server 2.0. But we did not get latest php addons for that.
Now i want to install multiple PHP versions in wamp server, thats why i have plan to install latest wamp 2.2E.
To install the latest 2.2e wamp this is what I would do:
Make proper individual mysql backups of your database(s) using phpMyAdmin or whatever mysql tools you prefer. Backup your existing wamp directories just to be safe. ( copy all of c:\wamp somewhere safe ) just in case it all goes bad on you, you can copy these back and just install the apache and mysql services from the wampmanager menu.
Uninstall your old wamp properly via Control panel-> Programs and features, make sure you delete all the c:\wamp folders including subfolders after uninstalling.
Make sure you have latest the VC++ 2008 runtime installed Make sure you have the latest VC++ 2010 runtime installed
Install the latest wamp 2.2e with php5.4.3 Make sure that runs properly before doing anything else. Restore your site(s) and databases
Remember that your databases are held in the c:\wamp\bin\mysql\mysqlx.y.z\data folders so each new mysql you install will need to have the databases you backed up earlier restored to them, and users/passwords/privilages re-created.
Then download the additional PHP addon you may want Then download the Apache addons you may need Then download the MySQL addons you may want
Then switch to Apache xxx Then switch to PHP xxx
Remember that when you switch php versions it has to copy files from the php version file to the apache file, so it is advisable to switch the apache first and the php afterwards.
Once you are happy that you have a working old configuration restore you databases from the backups you took. Add any mysql users/password you may need for your applications to work. Now restore your application. And hopefully Bob's your proverbial uncle.
Issues you may have: They have changed the compiler used to compile Apache and PHP from MSVC6 to MSVC9. Apache and PHP have to be compiled with the same compiler so newer PHP's and Apache's wont necessarily run with older versions. So you may need to have older apache's to run older php's
Not all versions of PHP are available as addons, I have sent you a tutorial on how to manually install versions of PHP that are not available as addons.
Never imagine that easy. I was into the wrong thing that "get more" was an simply announce to versions, not to get more php versions on it. Really need it.