The backward compatibility problem was encountered with versions below 3.0, which means that you should export the contents from the 3.0 version to one that's compatible with 5.0. This implies you have both versions installed or else it wouldn't be possible. By default, Print Shop 5 should be able to import files from 3.0, but it's not always possible. Instead of using the original files, export them to another format compatible with Print Shop 5 and it should work.
