The regular version is what you've probably seen most of. It has the character lightning, and the afro guy, etc. It's going to be a turn-based sort of gameplay.

Versus is the one you might have seen less of. It's going to be more action-based in the gameplay, and looks much darker and more serious. If you happened to see the trailer for it, it's the one where the guy dressed in black and the silver hair is walking down the stairs as police(or whatever) unload on him and he has a shield that just eats all the bullets, and then he pulls out all the FF swords and does some crazy stuff.