No, when you run installation of many applications, it will give you a
"repair" option in addition to "remove" and/or "add" or "modify" depending
how they design the application.
I was not referring to the remove or installing SP 2, which based on my
limited knowledge, better not to do that easily.
In any case, try to run you installation of DVD X copy and see if it gives
you a "repair" option. Some applications use "repair" (such as newer
versions of Office and others) to put all registrations and files back to
where it was initially installed and appeared to be a working stage.
If not, you may want to remove and re-install it. But as suggested, you may
want go to their site first to see if any information related to SP2.