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You've missed out on the "original" title update; the "new" title update has a different melee system. Basically, in general, if you see "TU" in front of the playlist, it means it will have the following major differences from normal slayer:
85% Bloom
This means that unless you outright spam the DMR, your shots will be fairly well-placed. Holding down the trigger on the needle rifle ("automatic"/fast fire) doesn't even increase the reticule size now, so you can abuse that lol. Sniper and pistol bloom, in practice, is relatively unchanged.
Melees
The old title update had melees with bleedthrough like Halo 3 (like you've posted), but apparently some people complained about it (why I don't know - apparently it was hard to determine visually when you could hit someone to kill; some BS reason in my opinion), so it changed. Bleedthrough has been taken out, both in terms of shooting and meleeing. Currently, TU settings have a melee system that is the same as normal settings; if there is a sliver of shield left, the melee will NOT kill unless it is with a sword/hammer or from behind.
Armor Lock
I don't use AL, but apparently now it takes damage too. In the "old" Reach days, people would grenade-spam someone in armor lock to no avail; now, if you grenade-spam, you can actually kill them as their AL will fail due to excessive damage. Also, if you stick someone before they go into armor lock, they don't shed the grenade - sticking someone now always results in a kill .
Camo
I use camo a lot and the time has definitely decreased. The standing-still-in-one-spot time is less, and so is the running/crouching time as well (remember, running just takes a greater percentage of the overall time than standing still, so if standing time decreases, so will running). But that's about it; time is just overall decreased (I don't know the exact number, but in practice, I remember originally thinking my time was halved or something).
Overall, TU settings push the game into faster gameplay in normal-sized (8-10) games and make things more hectic in smaller ones. The DMR and needle rifle are almost overpowered now in big team games because you can shoot across the map MUCH more easily, so just remember to take cover or camo around.
Hope this helped and was not too convoluted. Have fun!