It is Late-Bound, and it will work with any compatible version of Access... but which ones will be compatible is not something you can assume, as Access has changed significantly over the years (and I think this is one of the bits that changed at least once).

There are alternative methods to compact+repair an .mdb file which don't use Access at all (so the user doesn't need to have it), but those methods all have their own drawbacks (eg: you can use JRO, but you may have installation problems).