We have a very old version, which saves in file formats like ".mld", ".fsif", ".msif" and ".bcf". Will the newest version open these files?
The latest version of the application available on the official website, supports the following file formats: Supports EPS, PCX, WMF, TIFF, BMP, EMF, DIB, WPG, IMG, JPG, & PCD formats.
As you can see, it doesn't have support for the formats you have mentioned. I recommend using the old version if you want support for those formats or simply export to a supported format listed above, and then you can upgrade.
Official website: http://www.avanquest.com/USA/software/mylabel-designer-deluxe-9-27451?meta=work&cat=small-business&sub=sales-marketing&pid=1106