LATEST VERSION? Are you aware of the fact that PM has been dead for many years?
If the prior owner filled out the proper transfer papers you can use it to upgrade to InDesign. If he didn't you can't use it legally at all.
I think "Y" stands for "Why are you using such an old program?" If you have an old computer with an old OS, it should work as well as it always did, but that was never as good as the way InDesign works. If you have a newer computer, I'd recommend ID.