The document "Storyboard.storyboard" could not be opened. Could not
read archive.
Please use a newer version of Xcode. Consider changing the document's
Development Target to preserve compatibility.
Can't we run it on xcode 4.2 by making some changes in settings.
Open storyboard file as source code, then change the version at the beginning from 2.0 to 1.0. Open it this time as storyboard file and voila :)
got it from: http://www.xappsoftware.com/wordpress/2012/09/17/how-to-open-a-storyboard-created-with-xcode-4-3-or-4-4-with-xcode-4-2-workaround/
Select 'Storyboard.storyboard' in the project navigator. Go to the utilities area and open File Inspector. In the Document versioning section, change the 'Development' to Xcode 4.2