Right now the global executable is version locked to a Cordova release. If you have a project running 2.5 you are required to have Cordova/CLI 2.5. If you need to then work in Cordova 2.4 you need to downgrade (not really but you would to be safe).
In Grunt .4 the global executable is dumb. It just shells to locally installed ./node_module version of Grunt. This enables project level versioning of Grunt. Nice feature. We can do the same thing: with the caveat that you would then require a package.json and ./node_modules folder in our Cordova projects. Discuss.