In my mind a traditional kukri is made by hand where the KLO is a modern machine made kukri. They both have advantages and disadvantatges.
The traditional kukri takes a long time to make and the quality is hit and miss at best, everything depending on unpredictable quality metal and the skill of the kami making it. The advantages are that the kukri can be made for specific tasks such as heavy choppers, light choppers or military service. Not only can they be made for specific tasks, they can also be made for specific individuals. So a heavy chopper for a big tall man will be different than a heavy chopper for a shorter man. Some down sides are poor quality scabbards, unstable wood handles and poor hardening of the blades.
The modern machine made kukri uses high quality metals, uniform designs, modern handle materials that are comfortable and last a long time and very good sheaths that hold the kukri tight, they have multiple attachment methods and they drain water well keeping the carbon steel from rusting.
Personally I think they are both very good and it comes down to individual preference. It is hard to say that one is "better" than the other.