Pure iodine is a solid at room temp, so you can be sure that both products are using iodide. As for the differences between iodion and lugol's, you'll have to let us know.
iodine releases a potentially toxic iodate when it dissolves into solution, where the corals are actually utilizing iodide (the other piece that splits from iodine.)
Dosing iodine in VERY small amounts is safe, and it's also extremely useful as a dip- however for steady dosing, I highly recommend using Iodide as I've burned off a bunch of SPS dosing Iodine a hair heavy. No issues dosing heavy on the iodide, and got just as good, if not better growth out of the stuff I dose iodide for.