What I mean is that I can still open version R296 now, but what will happen after July when SDK1 is completely unsupported? Old projects may not be accessible at all. What I want to know is whether a version that still supports SDK1 can be retained after full SDK1 deprecation, so that we can maintain and make minor changes to our old projects without needing new features.
SDK v2 is available only r388.2, which was the last stable sdk v1 in my opinion. As long as you remain r388.2 or less, you should be good to open your old projects. After that release, scirra made multiple changes that also affected the sdk v1 and I'd rather avoid to keep it "clean".
As chadory said, this seems to be supported indefinitely. On the other hand, the LTS version will be available for around 2 years, it will support sdk v1 and sdkv2 and will contain the latest c3 improvements.