The first versions of this fan-made switcher were too confusing for me to attempt to setup. I checked out the instructions for most recent version (V3) and decided to give it a try...
https://www.reddit.com/r/oculus/comments/3paivl/rtu_package_to_switch_between_oculus_07_and_05/
I have runtime 0.7 installed for about a week which meant no ED.
After following the instructions in the above link I am now able to switch between .5 and .7 without uninstalling or rebooting.
Just run the .5 file in admin mode and set extended mode and you're in!
When u come out of ED be sure to set the oculus off extended before u run the .7 file as admin.
Apparently the V3 works with .8 runtime too without any modification.
https://www.reddit.com/r/oculus/comments/3paivl/rtu_package_to_switch_between_oculus_07_and_05/
I have runtime 0.7 installed for about a week which meant no ED.
After following the instructions in the above link I am now able to switch between .5 and .7 without uninstalling or rebooting.
Just run the .5 file in admin mode and set extended mode and you're in!
When u come out of ED be sure to set the oculus off extended before u run the .7 file as admin.
Apparently the V3 works with .8 runtime too without any modification.