@rlm - no, because OP didn't do that. He (from the name) changed the compatibility level of the database. You can't change the version of the database. They are not the same.
See Search Engine Q&A #13: Difference between database version and database compatibility level
Paul Randal
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SQL MVP, Microsoft RD, Contributing Editor of TechNet Magazine
Author of DBCC CHECKDB/repair (and other Storage Engine) code of SQL Server 2005