Ahh, the version. By default, in VS2005, referencing a control library from the designer does not tie it to a specific version. But, you have the option of doing so. You can change this in VS205 by expanding the References Solution Explorer item and selecting the reference in question. Right clicking and selecting properties will show the properties of the reference. One of the properties is "Specific Version". Ensure this is set to False if you don't want it to reference a specific version.
I don't recall if any of the above applies to VS2003.