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The matrix always refers to the version, and not system parameters like optimizer_features_enable.
Not exactly everything in the optimizer will work as in 10.2.0.4 Some changes in the optimizer that are bug fixes may not revert behaviour to 10.2 So, you should still test the application.
The Upgrade documentation allows you to set O_F_E to 10.2.x.x even when running 11.2.x.x
Hemant K Chitale
This is to enable them to move to new database version with old application prior to upgrading application and enabling Oracle 11.2.0.4 optimizer features.
That's pretty much the intent of this parameter. But in my experience, this parameter is not a magic bullet. Test your application thoroughly. I've seen it where setting this parm to the older version doesn't always do as I expected.
Cheers,Brian