This one is pretty interesting findings, I found the check box "Show Updates" in the Add or Remove Program.
On selecting the check box, you will see a fantastic difference in listing the installed softwares.
It's a tree nature display which will give the information like which one is the master one and what all the patches applied on it.
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It's a fantastic feature and I found it today!!!!! Eurekhaaaaaaaaaaaaaaaa
Cheers,
Venkatesan Prabu .J