Actually, OPAM is supposed to follow Debian versioning conventions, to the best of my knowledge. However, it does not really matter for compilers, since you always specify the version to create the switch, but it might become a problem in the future, with compilers as packages.
I also think that following a "standard" versioning system (such as the Debian one) is a win, for the future, even if it would break compatibility for a short while. Maybe we could decide to switch for the next release (4.05) ?
--Fabrice