You can always preserve some backwards compatibility by saving as MIF. A
FM11 MIF should -- note the should -- be able to be opened in earlier
versions. You lose any "new" features, but the early FM MIF parser should
just discard "new" information.
Also, there are export filters, some not implemented, that let you save to
an earlier version as Jeff noted.
"... In my opinion, there's nothing in this world beats a '52 Vincent and
a redheaded girl." -- Richard Thompson
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Note: FM7 was not unicode aware, so if you've used any unicode specific characers in your FM11 document, saving as FM7 MIF will not properly convert these (you'll either see question marks or funny double-characters.
For FM8, you should really save as FM11 MIF. FM8 will ignore any feature in the MIF that it doesn't undersstand and will be able to open the file.