I think the latest version has much better lines on the torso than the original. The softer highlights are a much better choice for the skin tones.
The figure is kind of stuck between two styles, the original simplified style and a rounder volumetric style. They are both good choices, but they don't mix well.
If you want to keep to the original simplified style, then you could remove the highlights on the figure altogether. This means the shadow on the lower back needs to be smaller and also convey both the lower edge of the ribcage and the curve of the hips/buttocks. Not easy, but it saves you a color that can be used elsewhere.
If you want to keep the highlights you'll need to splash them across the shoulders as well, and adjust the lighting everywhere else on the figure. It really changes the basic style though, so I'm not sure that this is what you want.
In either case, I think the midtone in the back should extend down past the straps, and the bottom edge of the shadow in the lower back should have a curve.
Here's an edit. I'm not sure I got the curves right, but hopefully it shows you what I mean. Original, with highlights, without highlights. I only worked on the area between neck and hips (and the face, but I'm terrible at faces, so ignore that).
Hope this is useful,
Tourist
