This is a much needed upgrade for the Schaller strap locks.
I have had several of the old type with the thin locking nut, and they always had a tendency to get loose. Hence, it was always a good thing to have a spanner readily available, as they are hard to tighten my hand.
The new design is much sturdier and well thought out. The nut is much thicker and now made to be tightened by fingers. Besides that, the grub screw locks the nut when in position, securing the locks to your strap.
I have had it for a couple of weeks now and it is amazing. I don't ever foresee any problems with this system.