This module provides a new field formatter for Entity Reference that let you configure different view modes for each entities referenced. You can split referenced entities in groups and choose a specific view mode for each groups.
Do you need this module?
For example you want the first referenced node display as full and next as teaser, or you want first and second element as teaser, third as full and all next as rss! This module can help you!
A great http://codekarate.com/daily-dose-of-drupal/drupal-7-entity-reference-multiple-display-module">screencast from http://codekarate.com