This warning has the following cause and solution:
Click Yes to check out all the files in the project at the version you selected.
Click No to check out only the file version you selected.
Note If you are looking at the recursive history of a higher-level Project and you attempt to check out an earlier version of a file in a subproject, you must select the Recursive check box in the Check Out <filename> dialog box. Otherwise, the file will not get checked out.