I agree. The software I use at work for Bills of Materials allow you to do this, and it's great. We can scroll through the versions, which allows you to see which items are changing very easily.
It would be great if these different versions travel with the recipe when uploading to the cloud too. I've got the ability to save 300 recipes in the cloud, but it's just messy having all the different versions sprawled out individually. I would love to scroll through my versions on my phone while in the LHBS, and/or make quick substitutions on a new version based on what they currently have in stock.