I think that the theory would be that the inner OP part is to smooth out the hotspot of rings/holes/etc, while the smooth outer part of the rest of the reflector is to maximize the flood output. I say maximize as a smooth reflector gives a little higher output than an OP reflector, at the cost of the beam quality. In theory this would give some advantage of both. Looks like a good light, though those prices for their new 'LT' lights are pretty steep compared to their other lights.
Having said all that, I have a light with what looks to be the exact same reflector and the beam is average. I have a light, a Nexxtech 1 watt Luxeon, with this reflector, the body is very similar to this light, though it was originally run with 3 AAA (I've since made it for an 18650) and the overall machining pattern looks much different. It does give a very bright hotspot and good spill for a light running 7 hours on a 1 watt LED so in that regard it's impressive, but the beam does have some flaws with some mild rings outside of the hotspot. The beam looks better with a Cree if centered well. I've compared this reflector held over DX's 'Elly' Cree with the original OP reflector that comes with that light, and while that beam has less artifacts, this reflector does seem a little brighter with a more concentrated hotspot.
Hope I didn't confuse you too much.
