- It isn't really a "new format". It's an update to the existing format. - It is very backwards compatible. -- Old programs will load new PNGs to the best of their capability. A user will still know "that is a picture of a red apple".
There also seems to be some confusion about how PNGs work internally. Short and sweet: - There are chunks of data. -- Chunks have a name, which says what data it contains. A program can skip a chunk it doesn't recognize. - There is only one image stream.