No:
X-band has a higher pitched clean beeeep that converges to solid.
K-band has that burp alert, a more raspy tone, that converges to solid.
Ka is a rapid double-K-band beep that converges to solid.
In fact it kind of reminds me of what the X50 does on the standard, non-loud tones. I've had no difficulty recognizing the tones from each other; though youtube clips recorded with a digital camera's video mode and tiny microphone doesn't do it justice.
As far as versions, honestly in the past 3 years or so NOTHING has happened significantly in terms of updated V1's. Sure every 3 or 4 months a new minor version bump comes out, but there's really no significant difference. No performance changes or anything like that -- most likely just V1's internally switching parts suppliers to cut costs.
But should there be a major V1 update, you will have to send in the unit along with a modest fee (much less than the cost of the unit) to get it upgraded.
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