Why haven’t you opened a new topic?
That means that at least one of your macros has an action that is based on a custom plugin “Wrap Text”, and that plugin is either missing or it is not compatible with KM8.
The plugins are located here:
~/Library/Application Support/Keyboard Maestro/Keyboard Maestro Actions
If the plugin is there, then update it or remove it. If you remove it then you should also remove the corresponding action(s) from your macros.
If it is not there, then install it or remove the orphaned action(s) from your macros.
I don’t know if this related to the plugin issue. There is a very similar thread here, also about missing plugins, and this message is also mentioned. So, quite possible that it is related. Fix the plugin issue and then see if the “old engine” message still appears.
Note:
The post wehre this answer belongs to has been deleted and recreated here.