Hello
If you are talking about Version (not iteration), it should be possible , even if Intralink 10 ... each Version is independant, and your can checkout it if you have necessary access rules
If you're talking about iterations, it is possible also, but control by a preference. by default Windchill pref for that is set to no. the behaviour is then that you can check out an older iteration. and then checkin has the latest iteration: for example A.1 and A.2 exists. Checkout A.1 and checkin to A.3
regards