Vault introduced in 2014 following capability to the open from Vault command (taken from the what's new):
"In an effort to consolidate user workflows and improve usability, the Open command in Vault Explorer has been modified to align with the CAD integrations.
Instead of the previous behavior of gathering file dependencies based on file revision, the Open command in Vault explorer retrieves the latest file versions, meaning that the user will see the same default file results whether opening from Vault Explorer or CAD."
Still there is a way to force the legacy behaviour and here is how:
Modify the Connectivity.VaultPro.Exe.Config file located in C:\Program Files\Autodesk\Vault Professional 2014\Explorer using notepad.
Find the <AppSettings> section and then find the close of the section </appsettings>.
Paste the following line above </appsettings>
<add key="UseLegacyOpenBehavior" value="true"/>
Do this while the application is closed. Then start the application and test.