My first response to seeing this update: "This is an April fools joke, right?". My roommate's first assessment was "This is gross."; I couldn't disagree. After playing with the new GUI, I have quickly come to realize the new GUI is not only completely ridiculous looking, but also poorly functional and very poorly planned out.

This is the type of graphical interface I would expect to find on a video game that came out of a cereal box of the late 1990's. This is the type of UI that Internet Explorer started to use, right before its market got completely dominated by the more sleek, compact, intuitive browsers like Firefox and later, Chrome. This is the quality of UI that I would expect from an undergrad school project of kids who just learned visual programming.

Hear me out, OOO. I tell you this not because I hate you, but because I want very greatly for you to succeed in overcoming this failed attempt.

CONS with the current system:
-mandatory weapon scroll wheel. Here is a thought: maybe people dont want to see a bunch of giant icons pop up on screen every time they change weapons? Aside from the fact that it doesn't work properly, you should at the very least allow people the option to remove anything from their HUD that is visually intrusive, distracting, flashy, and completely unnecessary.

-Blue. Shiny, deep blue. Why. The menu colors, auction house colors, and escape menu colors are at an all time high for ugliness. The best HUD is the one you forget is even there. More contrast does not make it look better; more saturation does not make it look better. Light neon-blue on deep shiny blue is not an acceptable contrast choice for menu coloring. First of all, people are gonna be absolutely sick of blue in about 30 minutes. People are gonna get discomforted by looking at the same bright colors all the time; its just visually annoying. Additionally, the font on the drop down menus is ugly, and many of the characters are way too fuzzy to quickly identify the item. Also, the overall "shinyness" of everything really is not appealing.

-A giant picture of yourself, facing you, while youre trying to play the game. Honestly, I cant even begin to comprehend this. I know a lot of this game involves creating a little "persona" for yourself through costumes and accessories, but no one want a picture of yourself stuck on the screen at all times; that's just silly, distracting, and a waste of very valuable screen real-estate. Just make the portraits optional(and perhaps a reduced size option) and I think you'll make everyone happy.

-Shield indicator getting bigger when you block. Its nice that we can finally see how the shield mechanics work, but things shouldn't be popping around and resizing in the middle of the game. It looks silly. A much easier approach would be to encase the health in a SUBTLE outline that diminishes when the shield takes damage (this would visualize that the shield protects the health, but only when in use and not broken; some people still dont understand this.)

-Health and shield in top left. It should be in the bottom center. You should be able to look at your health without taking your eyes off of anything, and that is just not possible when its in an asymmetrical position off in a corner.

-Screen moving every time you take damage. Distracting, annoying, not at all immersive. Make it optional.

-Enemy and item fog above enemies and items; Giant, very bright triangle indicators moving in circles around what you're targeting. It should be optional, and they both look way too bright and annoying. Remember, subtlety is key.

-New "splash" image whenever you attack. No one needs excessive blue and red lights everywhere. When killing a group of enemies in a vortex bomb the excess lights are so ridiculous that I can't even see what enemies i'm hitting. Completely annoying.

-Neon green guild name color. Really?

-Vials. They are too bright and hard on the eyes. Also, you have still done little to make them distinguished from each other (lightning bolt on the shock one, ect).

PROS with the current system:
-Making "Show Rank" optional. Good decision, as many people prefer less clutter.

-Making the word "Haven" in the top right smaller: it was a button that new users won't really know what to do with, and its not too important. I do think you went a little overboard though; now its kinda hard to read. It should also be white.

-Additional mini map detail.

-The elevator transitions are ok. Its still not a great utilization of space but it works fine.

I'm getting sick of writing so I'll stop for now, but there are plenty more problems.
I hope you give serious consideration to undoing many of the design decisions you made here.