Previous overlay meaning downgrading your AIR SDK? If that is the case, probably stick with 4.5 if you don't want to go through the pain of migrating them to the newer SDK.
I might stick with 4.5 for th projects where I have to overlay an older AIR SDK (downgrade the AIR SDK).
However, what about the dependacy errors I am getting for the other projects which is okay to use the latest and greatest? Why is everything broken?
How can I fix many of these issues? The FontAsset issue should have been fixed by now: @see https://twitter.com/thibault_imbert/status/244647652099231744
Here's a good article I found regarding the 4.7 upgrade:
Did you find a solution to this? Im having exactly the same problems but ive upgraded from 4.6 to 4.7.
I want to use 4.6 but you cant buy a serial for it...so i bought a serial for 4.7 (which you cant use on 4.6!!)...4.7 breaks every project i have and i cant overlay Air 3.1