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The Hodge WedgeLocks do not utilize 2099, but instead still uses 7075, like the Mega WedgeLocks. The change from the original spec was allegedly due to cost concerns.In addition to what has been said above, another difference is the material. It uses Aluminium-lithium which is what's used on the MOD 2 receivers. In an nutshell it's both lighter and stronger than the mega counter part.
Beyond the differing lengths, note that the Hodge handguards only have a single M-LOK slot at the 1030 and 0130, as opposed to the Mega having two M-LOK slots, which I personally think the Mega way is better, as the single slot makes it difficult to use some of the common in-line WML mounts, due to cantilevering issues; the Mega is also available in KeyMod.