As well as releasing 4 inch scale figures based on the main characters, Bandai also released a first wave of Deluxe Figures that had an action feature.
The first figure released in this new wave of Deluxe figures was Lion-O. He comes in the Deluxe window box. It recycles the Lion-O art from the single carded version. The large window at the front shows the figure, and the accessories.
The back of the card shows how the figure works. next to that, we have a box that shows the figure with a short bio in a multitude of other languages. Underneath that, we have a box showing what other toys there are in this series. Then the other deluxe figures we can get.
This version of Lion-O is different. He features no articulation, aside from the arms. The claw shield is molded onto his right arm and he comes with the sword fully extended. Placing him on the base and ensuring his Thunder Lynx Magnet clips onto the Eye of Thundera, pushing the button on the base will make the insignia light up and Lion-O raises his arms and the sword above his head in the classic "HOOOO!" position.
I can see why these early deluxe figures were skipped over. Aside from an action feature, they weren't really action figures. All this version does is raise a sword. If you are interested, he fetches around £15 on the secondary market.