The XML files are very different between V1 and V2. The release notes from the first V2 image from 6/2009 indicates the files are not compatible.
The xml files in this release are not compatible with previous releases.
It will be necessary to reinstall devices, areas, scenes, etc.
The file names are different, the syntax of the content is different, and there is a DevClusters.xml file in V2 that did not exist at V1.