This version is objectively better, mostly because of the extra work that went into redrawing the SFX. However the other version is not bad either, and both groups clearly put some work into it. I think it's more a difference of skills than anything else.
So far I haven't seen proof coming from either side to support their version of the story. This makes it look like both sides are making stuff up and/or hiding something. Putting together the pieces, I think what actually happened was that Graviity ended the collab unilaterally and failed to communicate it properly/clearly, which made Vale & co feel betrayed/hurt. So Vale & co went against Graviity's wishes and continued to release this series, at their own pace, which happens to be faster than DEVMAX's. But Graviity took that as a snipe, and so both groups are stubbornly attacking each other.
It's sad that it has come to this. If I was Graviity I'd apologise and give Flame/Vale another shot at a collab, and if I was them I'd accept it (or just drop it altogether and go do something else). But given all the accusations thrown around, it'd be pretty tough for either side to step back and admit wrongdoing. 😐
EDIT: in the interest of transparency, Graviity sent me a screenshot as evidence that he did communicate the end of collab clearly to Vale's leader. Interpret that as you will. If true, this means the disagreement may have arisen from their initial arrangement, where Vale/Flame assumed it was more permanent and/or would transition into the other groups taking over eventually.