Pages v5 and IOS Pages v2.1 introduced a completely incompatible document format that Pages ’09 v4.3 cannot open. That document extension remains .pages for added confusion. Due to Pages v5 missing about 100+ features/functionality that were in v4.3, you may find that the file conversion to v5.2 may have filtered content from your older document format.
In Pages v5.2, use File > Export to Pages ’09 and see what remains.
In the future, with both applications installed on your Mac, a double-click of any Pages document will attempt to open it with Pages v5.2. If you want to open a Pages ’09 v4.3 document, you will need to open it directly from the relevant Open dialog, or by right-clicking on the document, and using the Open With > Pages (4.3) menu item. You have already seen the dialog when you attempt to open a Pages v5 document with the older Pages.
Here in the Pages for Mac community, we are recommending that users strictly continue to use Pages ’09 v4.3 until a time in the future where Apple has reconstructed Pages v5 or v6 into an acceptible WP application.