Can you save stored displays with a specific version active, so that when the stored display is opened it switches to that version?
We do not save any version information in the stored display. Stored displays only contain a link to the geodatabase. This allows you to switch stored displays while still staying in the version that you are in. If you need to save specific version information, you can use a simple ESRI MXD file instead.
To switch versions within the same session, use the ArcFM Change Version tool. The purpose of the ArcFM Change Version tool is so that you can switch between stored displays while staying at the version you want. For example, you could open a stored display, switch the version using the ESRI tool, but when you attempt to load another stored display it would bounce back to the default version, or the data would be disconnected. The ArcFM Change version fixes this by "remembering" the version that you want for the length of the session (until you close ArcMap), but it does NOT actually save any version information in the stored display.
Note that you do not need to use the ArcFM Change Version tool when using Session Manager or Designer. Switching stored displays while in a session or a design will maintain the correct version information. Only use the ArcFM Change Version tool if you want to switch versions outside of a session or design while also switching stored displays.