I have the REF-5 (2100+ hours) and REF-5 SE (160+ hours) and they do sound different.
To my ears, the immediately appreciable difference is that the SE sounds very together or "coherent". Instruments and sections in a band and orchestra just "feel" very together and operating in concert. It is my first immediate impression within the first 10 hours.
The 5 by itself does not evoke this togetherness or "coherent" sensation or feelings in my listening sessions. It does not overtly lack it, I just would not even detect or think of it when listening to the 5 by itself.
Overall, the SE improves all aspects of 5's capabilities. The improvement, except for the aforementioned quality, is neither subtle nor obvious. I can hear more natural extended realistic highs, richer and more detailed and better resolved mids and definitely tighter and much better controlled lows. From 5 to 5 SE, the changes are not so overwhelming as to be very obvious, but when listening to the two, I can hear the overall differences when taken as a whole.
Personally, I really like the "togetherness" presented by the SE. In comparison, the 5 sounds just a hair laid-back or just a hair mellow. I can be very satisfied with the 5 but the SE makes foot-tapping music.