IMO, the appearance of the CM's legioss is inferior to the appearance of the Toynami. I wouldn't say the problem is lack of detail - the details seem fine. I just don't like the weird nipples and the tiny heads on the CM's. Also, the CM's legioss is really lightweight, and the transformation is sort of unsatisfying - doesn't really 'lock into place' in fighter mode, if you know what I mean. The Toynami alpha has many problems also, which I've described in other posts. Overall I'd give the slight edge to the Toynami, but you could make an argument either way.
As for the tread, I haven't handled the Toynami yet, but from pictures, I prefer the appearance of the CM's. The CM's tread is wonderful to play with - very solid and satisfying. But, I'll still be grabbing a Toynami beta in addition to the CM's, because the Toynami beta looks pretty cool, and it's huge and has a lot of metal, both of which count for a lot in my book. Based on reports so far, it sounds like the Toynami beta avoided most of the flaws of their alpha. Also, it sounds like the legioss-tread hookup on the Toynami set is better than on the CM's set - it almost has to be, given that the CM's linkup was really weak.
It really seems to me that neither set blows the other one out of the water. Both have strong and weak points. In such a situation, I recommend just staring at pictures and deciding which one appeals more to your tastes. Good luck.