As Thundercats came off it's mid-season hiatus in 2012, so did Bandai, with figures based on the characters from the latter half of the season.
Lion-O was the first to be released in the 2012 Year 2 line. The figure comes in the standard blister card with the Thundercats logo in the upper left and a graphic of the young lord. Lion-O and his accessories are visible in the bubble.
The back of the card shows the new look Lion-O with a bio on him and the series. There's a small box on the vehicles in the series and then a look at the figures in the year 2 line up.
Lion-O comes completely redesigned from the original figure. It's the same torso, left arm and lets, but now his right arm comes completely encased with the Claw Shield and Armour of Omens and with a scowling face. He comes with 2 swords. Articulation is in the neck, shoulders, biceps, wrist, waist, hips, knees and ankles.
The 2012 redesign was a great addition to the roster. It showed off Lion-O's new powers and and upgrades he got in the series. Many people might fight it skippable though, as the First Year basic is all some might want. It depends on how badly you want to get all the figures.