Panelbuilder 32 version 3.81 or newer should support both of those firmware versions.
There is not really a coversion process, you just choose a panel model number and a range of firmware for the application and then save it. If you are going from older to newer, there should be no issues. If you have to go from newer to older firmware, some features may end up missing.
Always validate the application after making such changes and the software should report any errors that crop up.
If you want to change the firmware that is running on a Panelview standard, there is a separate utility to get that done. I forget the name of it.
Panelbuilder32 is no longer listed as a valid product on the Rockwell website but I do believe it is available for purchase. I got a quote back in January but have not yet purchased it. The part number is 2711-ND3. If you need to buy it, call your distributor.
http://ab.rockwellautomation.com/graphic-terminals/2711-panelbuilder32-software
If you only need to transfer a program to a replacement unit with newer firmware and your company policy allows, you can probably get someone here to modify the application for you if you zip it and attach it to a post or send it via PM.
There is a free utility you can use solely for the purpose of transferring projects to the hardware. That software may also be hard to find. My favorite method is to just use a memory card. Panelbuilder32 can save the application as a "panelview terminal file" or .pva type which can be saved to a PCMCIA based memory card and then you can load it to the hardware using the onscreen configuration menu. Getting to that menu requires some knowledge which is dependent on exactly which type of hardware you have.
The rule of thumb with Panelview questions is to post the complete part numbers of the devices and be sure to distinguish between PanelView Standard and the newer varieties that are currently sold.