All the problems of the previous version have been solved with this new design. The screws are thicker than the originals, that were too narrow for most guitars and would force the installer to use some wood splinters and glue to make the screwhole tighter. The strap pin that would start to wobble once the screw would loosen up a marginal bit is now part of the screw, which makes it more stable. Also the tightening of the screw isn't made with a phillips screwdriver but a common size hex key (the same size that's used for floyd rose locking nut and many bridge poles). That's great because with the old design you would have to tighten the screw over and over again making the head of the screw duller every time.
The part that is attached to the strap has also been improved. With the old design the screw would come loose if you didn't use locktite or similar glue. Now instead if a washer and a nut you have this wide and thick screw-like thing that's easy to tighten, with a small screw on the side that prevents the part loosening in the strap. Because of the problems with the original design I went away from the Schaller locks for many years but now that they all have been thought through and fixed, I think these are the best readily available strap locks.