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We're interested in this as well. In our current software (I-DEAS), we can set a column to be "status". There, it will report a number of different things, including whether the assembly or drawing contains items that have new versions available. You have to do a little digging to find out which ones, but the same column also reports which items are not the latest version, so it's not too bad. It's nice because you don't have to go specifically ask any one assembly or drawing if it needs to be updated. You see the status for everything within the scope of your view. It does carry some overhead, because it has to go interrogate a lot of stuff in order to present the status, so it's not the speediest column we have.
We have not yet found an equivalent capability in Enterprise. They may be a solution through reports or searches, but it would be nice to have another column in the Explorer view. I'm kinda hoping we just overlooked something in the Column setup of the Admin tool.