The Excel version is quite good but it doesn’t have a built in currency converter(to your base currency), also it’s slower due to being a complex document.
The python workbook can connect to your TWS platform and request some data like open positions and portfolio information.
Python workbook can connect and download flex queries by not logging into the ib website.
And overall I can add more future features to the python workbook. Excel is very limited.
And many more…