Adding an identifier to the title when you rip the CD would be the preferred way. Alternatively you could add an appropriate identifier to the existing album in your library before importing the new version.
If you do end up with a name collision you can use some of the navigation tools and search tools in JRiver Media Center to navigate to the directory where the new album is and rename the title from there. For example, I have an "import" and "rip" directories where I copy all albums that are in process of being imported. If I had a naming collision with a new album I could navigate to the import directory within MC and add an identifier to the album from there.