Vimeo Panel within Premiere

This is the response I received from Vimeo.

The Vimeo panel within Premiere is optional, and you can still continue to upload using the previous method. We recommend using the upload method that you feel most comfortable with.

The main difference between the two is that the panel is located within your project window to allow for quick and easy uploading. This product was created with collaboration in mind, to allow for editors to easily share their sequences for quick feedback within a few clicks. In addition, the panel was developed in house, so it's in our power to troubleshoot and fix any issues that arise. The "Share to Vimeo" function was built and maintained by Adobe (using our API), which makes it difficult to troubleshoot from our side of things.

Both options do allow for direct upload to Vimeo from editing software, so I agree that the differences are currently minimal. Although, we are planning to add some additional functionality to the panel in the near future. This includes incorporating full review page features in Premiere (such as timeline notes), video replacements, and the ability to upload multiple sequences with the click of a button.