Looked at metalink :
1. From 7.3.3 to 8.1.6 => Use the EXPORT 7.3.3 to export the data from the 7.3.3 database and IMPORT 8.1.6 to import the data into the 8.1.6 database.
2. From 8.1.6 to 8.1.6 => Use the EXPORT 8.1.6 to export the data from the 8.1.6 database and IMPORT 8.1.6 to import the data into the 8.1.6 database.
3. From 8.1.5 to 8.0.6 => Use the EXPORT 8.0.6 to export the data from the 8.1.5 database and IMPORT 8.0.6 to import the data into the 8.0.6 database.
4. From 9.0.1 to 8.1.7 => Use the EXPORT 8.1.7 to export the data from the 9.0.1 database and IMPORT 8.1.7 to import the data into the 8.1.7 database.
5. From 8.1.7 to 9.2.0 => Use the EXPORT 8.1.7 to export the data from the 8.1.7 database and IMPORT 9.2.0 to import the data into the 9.2.0 database.
6. From 9.0.1 to 9.2.0 => Use the EXPORT 9.0.1 to export the data from the 9.0.1 database and IMPORT 9.2.0 to import the data into the 9.2.0 database.
7. From 8.1.7 to 7.3.4 => Only if never run before, first run CATEXP7.SQL on the 8.1.7 database in order to create the Oracle7 data dictionary views; then use the EXPORT 7.3.4 to export the data from the 8.1.7 database
and IMPORT 7.3.4 to import the data into the 7.3.4 database.
You are totally right downgrading is possible (From 8.1.5 to 8.0.6 => Use the EXPORT 8.0.6)
Sorry
Orca