There are a number of differences between the 2 formulas.
The newer formula has been designed specifically to be sold in EU and US markets, where they have stricter environmental policies. Soft99 has had to dilute the chemicals, and/or reformulate some of the products to comply to the EU/US regulations.
Having said that, the "older" formula is not going away. It is still available to Asian/Australian consumers. As per various reviews, the Asian Soft99 Fusso wax is more durable, smells worse, and is slicker (better water beading) than the EU formula.