I was thinking - mysqldiff is cool and all - but some sort of utility like cvs for databases could be quite useful. Every time you ADD/ALTER/DROP a column/table/etc. it logs it. Could be an option for data too.
This way you could change a db from/to any version. My big headache is updating the schemas of all past versions of apps (on various users' machines) to the current version. Hmm, wonder if the logs could be used for something like this...