Soundbed
Music for TV
My guesses, based on limited information but simply thinking through the question a bit...:what's the point of doing so many strings library? does it mean that this one is not good enough? (no offense intended)
I think in AudioBro's case (not trying to speak for them) they wanted to have a library that introduced some of the new features like recorded scales, runs, ostinatos, new shorts like martelé and aleatoric effects ... but they could not go back and "re-record" LASS with those additions a decade later.
So making a whole new and consistent library with all the new material made sense.
I presume for LASS 3 (and I don't really know) the updates will at least include GUI and engine changes. Given their experience working directly with Native Instruments on the Symphony Series and now the Modern Scoring Brass and Genesis engines, LASS might even get a new look and feel and even more controls than it had before. But I'd guess AB would be primarily refreshing / re-using the original LASS recordings in 3.x ... maybe (a little) like Spitfire did, when they re-released Albion One.