I spoke with one of their community managers and asked him a couple questions about the difference between Blue, Black and Red Labels:

The difference is typically in the art. We commission the artists to do more elaborate, more time intensive work.

Blue Label is also stamped with the Blue foil imprint, bound in blue and has a blue satin bookmark ribbon. So there’s some really nice small touches.

The GI Joe art should be in the office soon and we will definitely be passing along previews of it. Can’t wait to see it!