At first when I saw this I'm like, what a cop out. They took Armada Hot Shot, about 6-7 years old right now and recycled him into another line. When I was a tike (about 10-11 years old) when Armada came out. Hot Shot was my favorite. I had 3 yellow Hot Shots and 2 red ones. I couldn't get enough of him. Anyway, upon further investigation, per se on this and found it to be almost a new figure. He does give up his ability to have that axle-like RPG but he gains a lot more. First off, Universe/Henkei Hot Shot's vehicle mode is more stylish and realistic looking. He gains more posability and less kibble. So he gets a better Kibble:Posability ratio.
I'll have to go with the reissue on this because it offers more posablity. He also looks much cooler. I'm not going to get him anytime soon, but if I had to choose between the two it's the Henkei/Universe
For your personal references/comparison: Here's some pics for you to spot the differences.