Packaging two versions of a library within a single application is not a good idea. Are you doing this because you have two libraries which overlap in some areas?
You should try and limit it to just one version, otherwise your application will be harder to maintain. How can you track down bugs if you don't know which versions of each library it's running with? You won't be able to determine whether the problem is in your code, or someone else's.
Bughunting is difficult enough without having multiple versions of libraries to consider :-)