This game is an update to the arcade version of Cyber Troopers Virtual-On.
It features a variety of extra options such as widescreen support, system link, "assault mode" (removing projectile weapons) and "chibi mode" (similar to Virtua Fighter Kids).
You can also play as the final boss in "Z-Gradt mode", and can enable "dash cancelling", a feature introduced in Cyber Troopers Virtual-On: Oratorio Tangram.