You may have seen the Vero 2 runs at higher clock speeds than the MXQ. They both use an S805 SoC but we bin our CPUs a little more highly which means we get better performance and more stable chips.
When we were looking at S805 designs, we came across the MXQ as a reference board. I don't think it can run Linux (Debian / Ubuntu etc), and the WiFi performance on the unit seemed very bad. One thing we have definitely learned from the original Vero is that a lot of users used the device with a WiFi connection. We have made sure that the antenna is positioned well and the throughput is good enough for HD streaming and comparable to other devices.
The housing is similar, as the SoC manufacturer have 'public' housing, but there are some cosmetic differences to the finish. Then obviously things like the Android software support, the remote, the case and support for Debian and it's APT repository is quite different, even if the SoC is the same.