Why would you 'need' to upgrade to Lion ?
I've been dual booting Macs for years, though USB is a terribly slow way to do it. A second internal drive, a drive partition, or a Firewire drive are all easy and faster.
My current Macs have Leopard, Snow Leopard and Lion as boot options. Everything new that's 64bit and benefits from it goes into the Lion system drive, legacy apps stay put.
It's not a fail by Xrite, it's the new business model called survival.