Yes V, V2 and V3 versions can be a bit confusing. In a VC you can find all those depending on the application and how many times it has been upgraded to a new version. The thing that matters in this respect is from which VC your applications are from. As i wrote, then if your applications is older than VC5 applications, then you can't open them inside AL3.
You should have informations in
If your applications is from VC4, then you can open them inside AL version (V) 1.2.4.126. It can be installed alongside AL3. At least i have that. If you have VC4, then you should have this AL availble. I assume you can find it in your ASC. Othervise you can download it.
You can't load applications from V5 and V6 in in this older AL.
ASC can tell you about which VC version you have and which individual applications that's in that version.
FYI: From VC5 the preset system changed. Older versions don't use the same system. They don't have preset browsers like the newer versions have.