Personally, I prefer the first style of this bind, as could probably be figured out by the fact that it's the one I demonstrate at the beginning and end of the video. I think it's a little bit more eye-appealing and easier to get consistent binds out of. However, the quick and snappy style is also very useful for some things. But either way you do it, it's just a very shnazzy alternative to the normal backspin binds you always see people doing.
For at least the first style of doing this bind, I find that it helps tremendously (especially when you're just learning it) to keep the movement of a regular Suicide in your mind. For the second style, it's somewhat a process of trial and error trying to figure out the right pressure and release time.