Hello,
Symantec uses a Sybase product for its embedded database. This product (SQL Anywhere) has in your case the Sybase version number 11.0.1. This has nothing to do with the SEP version number or the database schema version number for SEPM.
Have a look here: http://www.sybase.de/detail?id=1002288
With SQL Server, it's the same: SQL Server 10 is the version number of SQL Server 2008. See here:
http://en.wikipedia.org/wiki/Microsoft_SQL_Server
In the Windows Task Manager, you can see the database process as dbsrv12.exe. In SEP 11, it was dbsrv9.exe because Symantec used Sybase SQL Anywhere v9 at that time.
Check this Thread with similar Query - https://www-secure.symantec.com/connect/forums/sepm-database-question
Hope that helps!!