The Telepresence Server 7010 is a standalone Telepresence Server product in a 2U chassis. The 8710 is a blade for the MSE8000 chassis system that has the same capacity as the 7010, but you can have up to 9 of them in an MSE chassis. In the current release up to 3 of them can be clustered together to make one large Telepresence Server with 3 times the capacity of a single blade. The MSE chassis system also adds hot swappable PSUs and fans for greater resiliancy, and can also be used to hold other blades, such as the 8510 HD MCU blade, ISDN gateway blades etc.
The same software options are available for the 7010 and 8710, with the exception of clustering as previously explained.
I would check the release notes in case any minimum revision of supervisor software is required for new releases, but in this case as 2.3(1.31) is the latest release you should be able to run any recent release of the TelePresence Server or MCU software in conjunction with this - if future software releases require supervisor upgrades then this will be documented in the release notes, although it is always a good idea to keep the supervisor up to date when new releases become available.