Autodesk recommends using the Network License Manager provided with the most recent product you have.
In any case is not possible to have two instances of the NLM running in the same server.
Save your license file, your options file if existing, uninstall from the Windows Control panel the Autodesk Network License Manager, install the new from the 2011 product CD and configure the service.
Regards
Antonio Barroca
Autodesk Product Support
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Antonio Barroca
Product Support Specialist
Autodesk, Inc.