Caveat: I have only tried this on Windows. *nix varieties may vary. For a limited time only, the latest releases of WLP and WC can run on the same version of WLS (10.3.5). I found that if you first install WLP and then install WebCenter the same Oracle Home (in my choice, C:OracleMiddleware22.214.171.124) they seem to co-exist nicely.
That said, the first time I did this I left OEPE running and tried to start JDev after applying some of the tweaks described at http://bexhuff.com/2012/09/jdeveloper-memory-and-performance. This was not a good thing, and resulted in the need for the fix described at http://ariklalo.com/2012/05/27/unable-to-create-an-instance-of-the-java-virtual-machine-jvm-dll/. I probably would not have had the problem if I had closed OEPE first, but the fix seems to be a good thing either way, so no harm done and a fairly easy lesson learned.
© Scott S. Nelson