A word of caution for Hostgator users when enabling PHP 5.3.
I inserted the following code into my htaccess file as per this support page: https://support.hostgator.com/articles/hosting-guide/hardware-software/php-5-3
# Use PHP 5.3
AddType application/x-httpd-php53 .php
This allowed me to network activate the new version of Quick Cache.
However, I noticed two things occur.
1) I was no longer able to modify navbar menus in wordpress. I imagine there is other strangeness going on but I didn't want to mess around anymore so as soon as I removed the above code from the htaccess file, menu changes returned to normal.
2) When I enabled Quick Cache, it did not show up at the bottom of the page source code on any of my sites. I am using a multi-site installation of wordpress and have been using the previous version of Quick Cache for over 2 years without any issues.