No there isn't as the latest version of windows live messenger has critical security updates which probably aren't (or most likely can't) be applied to the older versions which means their only alternative is to block older versions so that accounts can't be compromised.
Just so you know they did this before with windows messenger (the messenger client that was bundled with windows XP ) as there was a critical security update they couldn't add to it and everyone who used it had to install the latest version (at the time) of MSN messenger to keep using the service.
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