Say if i have a Fire and Lightning version of {Ball Lightning} can i play that in a modern or legacy format
Yes.
206.4. Players may include cards from any printing in their constructed decks if those cards appear in sets allowed in that format (or those cards are specifically allowed by the _Magic_ Tournament Rules). See the _Magic_ Tournament Rules for the current definitions of the constructed formats (www.wizards.com/wpn/Events/Rules.aspx).
RESOLVED