I have yet to see a single interpretation that has anything to do with time:
•having great diversity or variety; "his various achievements are impressive"; "his vast and versatile erudition"
•changeable or inconstant; "versatile moods"
•competent in many areas and able to turn with ease from one thing to another; "a versatile writer"
•able to move freely in all directions; "an owl's versatile toe can move backward and forward"; "an insect's versatile antennae can move up and down or laterally"; "a versatile anther of a flower moves freely in the wind"
•capable of doing many things competently; having varied uses or many functions; changeable or inconstant; capable of moving freely in all directions
•versatility - having a wide variety of skills
•versatility - The property of being versatile or having many different abilities; flexibility
•To have many different uses.
Here are some urban dictionary definitions:
A gay/bi term that means a guy is comfortable being either the pitcher or the catcher during anal sex. Some versitile guys have a preference for one over the other, but will do whichever depending on their current partner. Others have no real preference between the two and alternate to keep their sex life more interesting.
1. In gay terminology, top to bottom. Pitcher and Catcher.
2. with many uses: able or meant to be used in many different ways
3. moving easily between tasks: able to move easily from one subject, task, or skill to another
4. changeable: subject to rapid or unpredictable change
5. zoology free-moving: describes a body part or joint that can turn or move freely in more than one direction, e.g. an insect's antenna
6. botany attached loosely: describes an anther that is attached to the filament by a small area, allowing it to move more freely
So it does have "other" meanings