Having looked at the variants and having done some research i noticed that there are distinctive differences between the hip/tunic colour combinations on the figures.
Combinations include:
Light Brown tunic/Flesh colour hips
Pink tunic/Light brown hips
Pink tunic/Dark brown hips
Light brown tunic/pink hips
Picked up a new Hong Kong COO variant today. Wolffs guide II. L1b R1a on his chart.
There are a few differences between this figures leg markings and the other Larger Font Hong Kong figure. (Discussed further below)
Here are the two large Font, Hong Kong coo figures I have picked up. One quite noticeable difference between the two is the definition on the markings. Also the presence of a small dot beside the "C" symbol of the LFL markings. New figure on the left featuring L1b and R1a. Other figures markings L1a R1b
Wolffs guide, COO II.
Both COO variants and LFL markings.
Hip and Boot colours:
There is a noticeable difference between the two figures Hip and boot colours as this picture shows.
Big thanks to Frank aka Frunkstar for his baggie expertise and input. Three nice variants here, including a great Red hair figure. (Discussed further below)
I currently have two No COO figures. One matches the figure shown in Wolffs guide, Family II. The new figure I picked up today has a different LFL marking to the one I previously had. There are two noticeable differences in the LFL markings. Both figures have similar head sculpts etc.
The 'LFL' itself is smaller on the new figure. Smaller than the 'C' copyright marking. The original figures 'LFL' marking extends over the 'C' stamp. Also, the '1980' date stamping is a lot smaller and tighter printed than the previous figure.
Here's a couple of shots of the two, second one shows the difference in the markings.