Perl 6 has the ability to load multiple versions of the same module side-by-side, and use them as desired. But as you've not specified a Perl version, I shall assume 5.x.
The answer is no. You can certainly install them both (using something like local::lib to put them in different library directories), but you cannot use them both in the same process, because they'll stomp on each others' namespaces.
One solution might be to install the new version, download a copy of the old version, and go through the source carefully to rename it so that it has a completely different name, say, Foo::Bar
-> Foo::Bar::Compat
. Then you can load and use both because they'll have different names.