I saw that no one had answered your question about the second generation TA204 COP probe. I believe that one of two reasons is a somewhat better sensitivity because of how the probe pickup is constructed and for the second, also more handy to use thanks to the flexible arm, which makes it a lot easier to access hard-to-reach-components – as also Picoauto state in theirs technical description for this TA204.
They both are made like sniffers which means that they pick up, as per construction of these, nearby magnetic fields. In simple words, and this is what I believe: construction of the pickup part of this last generation probe is slightly different, so again: they may have modified the second generation to improve its sensitiveness as well as making it more flexible compared to the one you have. They will both do the job well, so there is no need to be worried.
The first generation one that I have I thought it was a very good probe, producing some very clear waveforms so was left wondering why the updated version. Thanks again.