A side by side comparison of old and new from approximately the same view/angle.
It's hard to tell from just this one angle but it looks as though the south portion of the project (the single story entranceway and the second floor indoor/outdoor garden) in the foreground of the first/old render has bee eliminated and replaced by an at grade outdoor plaza/garden. The north portion of the project (the Music box and lobby) looks pretty similar. I would have to see more renderings from other angles to form an opinion on that portion of the project (i.e. better or worse than the original design).
Renderings are difficult things from which to pronounce design changes, BUT, if you look at key reference points -- the proscenium box of the existing theatre or the relationship of the southwest corner of the roof to that and the office tower behind, it actually seems like the new structure has enclosed quite a bit more interior space. The roof looks longer in the later version and the building is slightly more squat. I wouldn't be surprised if all of that is true, thereby making the forecourt smaller and programmatically less significant. I miss the tiered landscape of the newer version, but I like the more pronounced curvilinear aspect of the structure itself. I actually prefer the later version taken in the over all.
I like the proportions of the new design over the old and was never a fan of the odd roof. I also think the outdoor plaza, while not great in the winter, will be a great sitting spot in good weather and actually will activate that corner even more.