The only way to downgrade is start MONyog with an empty MONyog /Data folder (in cases where the schema of the MONyog embedded database are different between the 2 versions).
You may refer http://blog.webyog.com/2009/07/29/monyog-database-schema-explained/ :
“There is a schema_version table in all databases created by MONyog. Every time MONyog starts it will check here if the database is up to date with the current program version. If it is not MONyog will perform the necessary schema upgrades at start-up. Schema definition reads:”
But there is no logic handling downgrades a similar way. And that is why you get the errors in the log.
You write “So now I need to test the downgrade path in case we have issues in production with the new version.”. Don’t worry! You will nto face issues!