I would still say it's OK to proceed, because what this plug evidently requires is the 2010 redistributable. And you have that, just a "newer version." As far as I know, the different
years may not be compatible with each other (i.e. if the program requires 2005 and you have 2010, you're still going to have to install 2005), but updated versions of the same year should be backward compatible.
If this is so, then really the dialog boxes should say this in their message ("A newer version of 2010 has been detected. You do not need to install this version"). And the software that requires the redistributable should also contain instructions on what to do if you get this message. But alas, instructions are often woefully inadequate....