I am looking to buy one pair for myself so I kept reading reviews/feedbacks, mainly on Chinese forums as they are much more popular there than here. Here is a brief summary of what I have gathered there:
Overall, they are great IEMs, certainly TOTL level product; balanced and slightly colored fun sound; soundstage, instrument separation, resolution, imaging are all great; clarity is awesome; treble is smooth and neither too bright nor too dark, with quite good extension; midrange is its best part, a bit slightly forwarded but not as much as se846 or togo 334, smooth with great imaging and weight, great for both male and female vocals, very satisfying; the feedbacks on the bass part are sort of controversial, some say the bass is great, has good quantity and hits very deep, some other say the bass is not tight enough, some also say the cohesion between low and mid is not very good;
comparison with se846: Oriolus almost win by a good margin onthe treble, soundstage and clarity, midrange is on par though some may prefer the much forwarded mid on the se846,se846 wins in the bass part and; overall they are a level above se846
comparison with togo 334: they share more in similarities than in differences, the treble on Oriolus is better, the mid on 334 is much forwarded which might be a big win for some people, but the quality of Oriolus' mid is almost on par with 334 but not thus forwarded and thus resulted in more balanced sound, the vocal on 334 is more emotional, the female vocal is certainly better on 334 but the male vocal may be better on Oriolus; the bass on 334 may be better that on Oriolus as it is tighter and better layered (I didn't see many direct detailed comparison between them there)
So, all in all, Oriolus are really great but not perfect, they will be closer to perfect if the bass could be tighter, but nothing is perfect. If you prefer balanced sound with awesome mid, Oriolus won't dispoint you.
Regarding the Oriolus being sold in different regions, they come with different packaging and cables, but the IEM themselves are all certainly designed and manufactured in China, so the difference is only the packaging, the cable and the price. The second generation comes with a better cable and thus results in better sound, but there is no change to the internal design of the IEM.