Standard mode implements most of the C++ International Standard, and has some source incompatibilities with the language accepted by C++ 4, as noted earlier.
More importantly, the C++ 5.0 compiler in standard mode uses an Application Binary Interface (ABI) different from that of C++ 4. Code generated by the compiler in standard mode is generally incompatible with, and cannot be linked with, code from the various C++ 4 compilers. This subject is discussed in more detail in "Binary Compatibility Issues".
You should update your code to compile in 5.0 standard mode, for several reasons:
Compatibility mode is not available for 64-bit programs.
You can't use important standard C++ features in compatibility mode.
New code written to the C++ standard might not compile in compatibility mode, meaning you can't import future new code into the application.
Since you can't link 4.2 and standard-mode C++ code together, you might need to maintain two versions of object libraries.
Compatibility mode will not be supported forever.