What to do?
Lately I've been thinking like this:
$ cd /usr/local/
$ mkdir frobnicate-dist
$ cd frobnicate-dist
$ install frobnicate1
$ install frobnicate2
$ ln -s frobnicate2 current
$ cd /usr/local
$ ln -s frobnicate-dist/current frobnicate
The result is that /usr/local/frobnicate is our currently running frobnicate. If you need to change the currently running frobnicate... change the frobnicate-dist/current and all frobnicate versions are in the /usr/local/frobnicate-dist directory.
Perhaps frobnicate-versions?
Just a thought.