I created a merge publication in 2008r2 (10.50.4305). The compatibility for subscribers is set to 2005 or above. I subscribed to that publication from another 2008r2 install (separate machine). When I try to subscribe from a 2005 install/instance, I get the error "For merge publications, the version of the Subscriber must not exceed the version of the Publisher."
Am I being stupid? The subscriber (2005) does not exceed the publisher (2008). What am I missing?