Thanks for your input!
Files encrypted with v2 are not possible to open with v1. Files opened with v2 with the auto-convert option enabled (default) will be in v2 format. However, the easiest way if you insist on reverting to the unsupported v1, is to uninstall v2, install v1 and then download the standalone v2 which will enable you to decrypt v2-encrypted files as you need to in order to re-encrypt them with v1.
I’ve been a developer for almost 40 years, and I love to debate the pros and cons of all things, because things change! AxCrypt did not evolve at all for 15+ years. The world did though, and now it’s way past time to get things up to date again, which includes new views on passwords and local vs. remote storage (aka cloud).
Here’s my input to the single vs. multiple password debate: http://www.axcrypt.net/blog/use-of-different-passwords/ .