Well, it appears that the 'Z96 Upgrade' LED video light might not be an actual upgrade. It's just another variation of the product. It also seems that the Z96 form factor is such a popular light, there's even another version that doubles as an external flash called Z-Flash. The flash feature is something Litepanels tried with their MicroPro Hybrid. You can also see Canon implementing continuous LED lighting in the new Canon Speedlite 320EX Flash.
This new variation of the Z96 looks almost the same, functions the same, but has a new sync port that connects to the PC terminal on your camera to fire as an external flash. Who knows how much actual light output it can throw during flash mode, but for a higher price you can find more details following the link (click here).