No significant experience, but I want one. I've noticed several people transitioning to them. They're light and cut well. My only concern is whether they build up ice like the old bits, but I guess you could spray with with McLube and that should take care of the problem. The big thing that I've noticed is they spin true. Last year at least half of the new orange bits got sent back because they weren't straight. There are two differences I've noticed and I think which is better depends on how you use it. The Orange bits are designed to eject snow from the hole. You don't have to pull the bit out to eject snow, just get it spinning and drive it in the snow. The blue bits are more of a traditional design and don't eject snow well. However, the tip is designed to go into ice. You don't have to have get the drill spinning before you put it in the snow. You can decide where to put the hole, then turn on the drill. If you are indecisive about where to put the hole, you'll notice the difference. Also, the blue bits are designed for ice and go through it much faster, where the orange bits tend to skate a bit before getting through the ice. I haven't used the blue bits enough to comment on battery life, but if weight is similar, battery life should be too.
So, if you are using it on ice (watered, injected), go blue. If you are mostly in softer snow, go orange (if they can get their quality control back up). If you are in shallow snow often (less than a bit depth), they orange tips have five sides and are easily replaced. The blue tips have two sides and are $55. Personally, if someone gave be an orange bit, I would be happy with it, as long as it is straight. If I had to buy one I would buy blue. Depending on how much I work with masters, I may buy a blue bit because I hate the old heavy ones (they use 32mm SPM, we have 41mm BAW). Also, FWIW, the orange bits do break. The shank only goes in a couple inches, then it's just the plastic. I would expect the blue bits to hold up better long term, but I have nothing to back that up.