One of the best Hel redraws to be honest- it looks very nice. Only better one was the weapons cabinet.
As for inconsistency- her boobs look great. It only really contrasts poorly with some of the very early art in the "Helenya's Day off" narrative, such as where she daydreams about Rowan face-fucking Jezera.
The lessening of the power of the ring is a tone-shift in the arcs dynamic, which is also illustrated. No artistically rendered magic on her forehead from the ring = Hel doing something for herself and not being heavily compelled into her sexuality by magic. As Hel gains more control over it you see it slowly phase out from the art. It was a rather cool idea b/t the Author/Artist and it was well executed. Seems you kinda missed the subtlety though