How do I ouput a node reference field using a node reference template in Drupal 7?
This module has one display formatter named Rendered node, in its setting you can select view mode which referenced node will render in that view mode.

so you can define new view mode and configure referenced node in that view mode

have a look at this post: http://mearra.com/blogs/juha-niemi/drupal-7-custom-node-view-modes