There has been no compatibility change in the software. While it is in the best interest of a store owner to upgrade to the most recent/stable version for many reasons, the software is written to continue support for all versions that it has previously been written, which I believe at this time is considered 1.3.9 through 1.5.3 with exception that 1.5.2 was not factored into the compatibility as it was not a formal release and really should not be used in a production environment anyways.
So, short answer, yes it is compatible with 1.5.1 also.
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