New versions can be pretty bloody boring can't they? "New Citrus Flavour", or "now with extra cheese". And the other problem is that these versions can be copied before they've even hit the shelf by your friendly "retail partner". But you can get much more impact and added value from versioning.
Calve is a Dutch brand of sauces that I worked on a few years ago who did this, injecting much more brand personality sizzle into their range of barbeque sauces. One summer, they did a couple of limited edition flavours called "BBQ Beast" (curry flavour) and "BBQ Beauty" (pineapple). The concept of Beauty and the Beast was brought to life on the packaging as you can see. And boy, did this stand out on shelf better than your average new product. And go on Albert Heijn (the big supermarket chain)...try and copy that!
This launch delivered good business results, and also did a much better job of promoting the brand and creating awareness.