Sorry, you threw me with your reference to "the new LVW" oculars. The LVW series was released a long time ago, at least eight years back and quite possibly more than a decade ago. You have the essential difference between the [N]LV and LVW correct. The [N]LV series (NLV being the latest incarnation, LV being the older one) are physically small/light oculars that offer a fairly narrow apparent field of view while the LVW series are physically larger/heavier but offer a wider apparent field of view. Both series offer 20mm of eye relief which is great for people like me who wear spectacles for astigmatism.
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