The blog post doesn't mention all of the aesthetic differences--which, at the current Amazon price point, could justify the price difference for some--so I thought I would mention the others here:
-the headband is leather -cans have a Sennheiser logo on them -cans have a chrome ring around them -comes with a nifty headphone stand / mount
disclosure: I own some 555's, and will be trying this mod at the office on Monday.