flippya: 1. Will I still be able to use the old version of crunchessor alongside this new version? (or will the new version replace the old?)
Yes, you will be able to use previous version. After upgrade, you won't lose the rights to use it. Newer version also has a different DLL name, so it does not replace a previous version.
flippya: 2. Is there a way to turn off the meters to keep cpu use as low as possible?
This isn't possible. You should probably strive to upgrade your CPU to some latest generation.
flippya: 3. I don't suppose it's possibe to use the sidechain feature in FL Studio? (FL doesn't allow multiple stereo inputs to effects)
I'm not fluent in FL Studio, so can't comment. Of course, external side-chain requires additional inputs. However, as far as I can tell FL Studio 8 exposes all available plug-in's inputs: you probably need to setup routing in FL Studio correctly (I can't suggest how to do it - ask on FL Studio forums or consult its user's manual).