Not sure what you mean by effective.

You can mark text as "hidden." If you do it will not print unless you change your print options. This is a font formatting.

The way I would do this is to have one or more modified styles. I would have a Body Text style for text I want always to be printed and a Body Text - Hide style for text that would be hidden in one version but not the other. Then, to print everything, I would modify the Body Text hide style to not be hidden text. You could create macros that switch this setting on and off if there are a number of styles involved.