How to Partition hard Drive + install previous OS (10.7.2) on one, while leaving 10.8.4 on other I am having to do this to make my Presonus Firewire 26x26 work since they do not have updated drivers past 10.7

Bought the Macbook Pro in 2009 - it came with Snow Leapord. Hard Drive started to fail about 7 months ago so i had it replaced and the new OS that was installed don it is 10.8.4 

i followed these instructions to a T:

http://mac.tutsplus.com/tutorials/os-x/how-to-and-why-you-might-want-to-partition-your-macs-hard-drive/

BUT>>>the weird thing is - it did SEEM to Partition the drive into 2. I named the new one. It shows / recognizes that it did it in the disk utility window where you make that all happen........BUT.......is DOSE NOT show / get recognized in STARTUP DISK, WHEN BOOTING up the Computer, or when i attempt to install the older OS (10.7.2) onto the new partition. 

I also tried installing the older OS via a DVD.......nope!

Weird thing : in the FINDER Side Bar it shows up as a DEVICE????? why???

AND : when i click on "install MAc OS X Lion" it says ""This version of Mac OS X is too new to run “Install Mac OS X” from Mac OS X 10.7.""

Please - Any help figuring this out would be much appreciated and super props to the internet computer that can help me with this! If you in Portland OR and can help resolve this ill buy ya a drink! I can not use studio software until .....Thank
I assume you are trying to install using the OSX Installer app. This will not work; you MAY be successful making a bootable USB (you will find instructions by googling).

Even this may be confused by the later recovery partition, and would probably overwrite it.

Your best option may be to install on a new external HD.