Electronics these days are very reliable so I would say probably not. If you leave a game in it for an indefinite period of time, you run the risk of burning out the rotary motor sooner than it would supposed to normally burn out. How long that is depends on how good of a condition your xbox is in.
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Well, I leave my games in there sometimes, and it doesn't do anything, But I know from experience that, DO NOT move your xbox 360 with a game inside, or it will ruin it!
The Xbox edition's current version is about equivalent to version Beta 1.7.3 on the PC.
Currently, the Xbox 360 version of Minecraft is running 1.6.6 beta. This update came out before the adventure update of 1.8. It will take a while for the Xbox 360 version of Minecraft to catch up to the PC version of the game.
There is only one version of Minecraft for the Xbox 360.
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