Ryan says, "You may have some issues but they would be minimal and you should be able to open your templates. I would certainly try it. Just always remember to back up your cwr files."
So if you have any of your .cwr files inside of the wrapcandy folder, be sure to copy them into a separate folder that you make and save so you don't lose them. I have all of mine in separate folders anyway, just to be safe.
I asked him how to get to the older version download but he hasn't replied yet. Roxy, when I went to your link it takes me to my account but my account is only showing the download for 7.4; that's why I asked Ryan how to get to the older version download. Will let you folks know when he replies to me.