Hi Hani,
Do you have any unique indexes specified on your feature class for columns other than OBJECTID?
The reason that multiversion tables cannot support unique indexes is because the delta tables that get created in this operation will support multiple rows for a single OBJECTID. Therefore, a unique index cannot be used as the values in the column will most likely repeat.
For example in table 'Streets' with columns OBJECTID, NAME, LENGTH, SHAPE the following row exists:
1, Main St, 1.234, Shape
If editor 'A' modifies the length field the delta tables will have a new entry:
1, Main St, 2.567, Shape
If editor 'B' modifies it after editor 'A' but changes the length, the new delta table will look like this:
1, Main St, 2.567, Shape
1, Main St, 2.789, Shape
This shows that if a unique index was built on the NAME column, the delta tables would error out frequently with every insert or update.