Functionally it's the same tool with a few modifications/changes:
1. The Elite Scandi Body portion of the kit is different in a few ways.
a) It's made with RIO's latest Slickcast coating
b) the back loop is now blue
c) previous versions were all 23' long. Now they range from 20' to around 30' depending on grain weight
2. The "replacement tips" portion of the kit is different and called MDC tips.
a) It's made with RIO's latest Slickcast coating
b) the sinking ones are now multi-density vs. single density
c) the tips are now 12' and 18' in length vs. the previous 10' and 15' lenghts
d) the tips are now offered in weights 5/6, 7/8 and 9+ vs. #5, #6, #7, #8, etc. weights previously. I like this better personally... having only a 10 grain difference between previous replacement tips wasn't necessary IMO
In addition to the above, for those of us who enjoyed the 15' replacement tips of old, they repackaged those 15' replacement tips now called "Classic Sink Tip 15ft". They are made with RIO's newest Slickcast coating and offered in those more consolidated 5/6, 7/8 and 9+ weights.
I was a long time user of the previous Scand Short Versitip and Scandi Versitip. If you like that one, you're gonna enjoy this. Personally, I like the longer tips of the new version and they help (in the lighter grain weight ones) to compensate for the shorter body.