diff --git a/openpype/hosts/hiero/api/lib.py b/openpype/hosts/hiero/api/lib.py
index d8a235be77..876fae5da9 100644
--- a/openpype/hosts/hiero/api/lib.py
+++ b/openpype/hosts/hiero/api/lib.py
@@ -190,7 +190,7 @@ def get_track_items(
                     if not item.isEnabled():
                         continue
                 if track_item_name:
-                    if item.name() in track_item_name:
+                    if track_item_name in item.name():
                         return item
                 # make sure only track items with correct track names are added
                 if track_name and track_name in track.name():
@@ -949,6 +949,54 @@ def sync_clip_name_to_data_asset(track_items_list):
             print("asset was changed in clip: {}".format(ti_name))
 
 
+def check_inventory_versions():
+    """
+    Actual version color idetifier of Loaded containers
+
+    Check all track items and filter only
+    Loader nodes for its version. It will get all versions from database
+    and check if the node is having actual version. If not then it will color
+    it to red.
+    """
+    from . import parse_container
+    from avalon import io
+
+    # presets
+    clip_color_last = "green"
+    clip_color = "red"
+
+    # get all track items from current timeline
+    for track_item in get_track_items():
+        container = parse_container(track_item)
+
+        if container:
+            # get representation from io
+            representation = io.find_one({
+                "type": "representation",
+                "_id": io.ObjectId(container["representation"])
+            })
+
+            # Get start frame from version data
+            version = io.find_one({
+                "type": "version",
+                "_id": representation["parent"]
+            })
+
+            # get all versions in list
+            versions = io.find({
+                "type": "version",
+                "parent": version["parent"]
+            }).distinct('name')
+
+            max_version = max(versions)
+
+            # set clip colour
+            if version.get("name") == max_version:
+                track_item.source().binItem().setColor(clip_color_last)
+            else:
+                track_item.source().binItem().setColor(clip_color)
+
+
 def selection_changed_timeline(event):
     """Callback on timeline to check if asset in data is the same as clip name.
 
@@ -958,9 +1006,15 @@ def selection_changed_timeline(event):
     timeline_editor = event.sender
     selection = timeline_editor.selection()
 
+    selection = [ti for ti in selection
+                 if isinstance(ti, hiero.core.TrackItem)]
+
     # run checking function
     sync_clip_name_to_data_asset(selection)
 
+    # also mark old versions of loaded containers
+    check_inventory_versions()
+
 
 def before_project_save(event):
     track_items = get_track_items(
@@ -972,3 +1026,6 @@ def before_project_save(event):
 
     # run checking function
     sync_clip_name_to_data_asset(track_items)
+
+    # also mark old versions of loaded containers
+    check_inventory_versions()
diff --git a/openpype/settings/defaults/project_settings/hiero.json b/openpype/settings/defaults/project_settings/hiero.json
index 44b27fc16f..1dff3aac51 100644
--- a/openpype/settings/defaults/project_settings/hiero.json
+++ b/openpype/settings/defaults/project_settings/hiero.json
@@ -34,7 +34,8 @@
                 "jpeg",
                 "png",
                 "h264",
-                "mov"
+                "mov",
+                "mp4"
             ],
             "clip_name_template": "{asset}_{subset}_{representation}"
         }