I am familiar with branching in versioning control systems, and this is not something that has been integrated in the tool. While I would love to see collaborative editing features and integrated version control, they're pretty far down in the priority list due to the sheer effort it would take to implement them.
That being said, I believe what you want still can be achieved by using a version control system in conjunction with the tool. Whenever you find suitable, you can select Generate -> XML from the menu, check in the generated XML code, and create a branch in your VCS. At any later point, this XML can be checked out and loaded back into the tool.
A bit of manual labor, but essentially you get what you want.
Regards,
Lars