It's just it's wrong for the character. It's way to skinny it needs bulking up a little. Look at the original version :
He's pretty well built. not the biggest muscles but strong and big enough to fight. In the cartoon he goes head to head with Mumm-Ra in his ultimate form. He manges to push Mumm-Ra's heavy stone sarcophagus in to the cauldron/pool Mumm-Ra has. In "Lion-O's Anointment" he has to battle Lion-O's Anointment in a feat of strength.
His build is very important. He's not Spider-man or superman. We can't say strength is a power. Now I think that look has some ideas right. I like the hair , I like the costume. But it's his build that's off to me. He kook's like an average teenage. Not a bad idea and I can see why. But he needs to look like a fighter, a warrior.
Maybe i'm the only one who feels that way but Lion-o needs a he-man like build to his body. Otherwise it's not lion-o.