Overall, this is a substantial improvement. For me, the highlight is the Psykineticist's Boost ability -- all of a sudden an ability meant to be used against enemies becomes a way you can help your allies if you choose this subclass. That's fun, smart design.
But there's a lot of weird wording here, and things aren't as clear as they should be. In my mind, these are mostly all worded poorly, not actually broken as it is.
CLEANING UP THE MAIN CLASS
1. Mage Hand. Everyone has Mage hand, but that should be listed before spellcasting, since in Spellcasting, you choose cantrips, and Mage Hand is on the Psion's spell list. It's just a matter of presentation, but Subtle Telekenesis should be listed first, and probably Mage Hand should not appear on the Psion's spell list.
2. Spellcasting. If you're a third level Psion you can't have six 1st and 2nd level spells in any combination, as the example says. YOu can have at most 2 second-level spells, and 4-6 1st-level spells.
3. Psionic Disciplines. "You gain two disciplines of your choice, such as..." Why this wording? The recommendations are poor choices, and they're not presented as recommendations (compare cantirp choices under spellcasting).
4. Psionic Backlash. "(minimum of two)". Is this the first time iwe've not had "minimum of one". Also, what are they saying? "you take from the attack equal to two times the number rolled plus your Intelligence modifier" Assume Int 8 and you roll a 1. Are they saying that Int mod minimum is 2 (which it would be in any case 99% of the time), or that 2x1+(-1) would give you 1, but instead you get 2 (which would not apply to 99.99% of the time)? I presume they mean the latter, but it's all so niche anyways. There is no need to set a minimum. If you play an Int 8 psion, you deserve only a 1.
5. Bypassing Psionics. Sharpened Mind lets damage from weapon attacks bypass Psychic damage. This seems weird, since weapons don't do psychic damage. This was in the last playtest too, and it makes no sense to me. The whole Sharpened Mind ability feels very niche to me: The attack mode option seems very finnicky.
SUBCLASSES
--> Metamorph
6. Organic weapons. Written so you don't need to invest in True strile, which means that the Extra Attack at level 6 doesn't "need" to give you a cantrip (the most common use of which now woul dbe True Strike).
7. Unnatural Flexibility. The +1 AC will stack with the +2 from Organic Defense, but this kind of stacking needs to be more clearly worded: "Your Organic Defense now gives you +3 AC". EDIT:THis is wrong, since Organic Defense requires you spending a die. I see what they're doing now, but the AC bump is too small.
--> Psykinetic
8. Telekinetic Techniques. Again, the wording is off here. As worded, you roll your Energy Die, which only gets expended if the target fails their saving throw, and then you roll 1d4 instead? What a burden. It should just let you always roll a 1d4, without ever involving your Energy dice.
9. Many of the abilities magnify specific spells, which is fine. It's not like the Ranger, where all the abilities tie to the same spell. There will be some weird outcomes: by my reading, if you block an arrow shot from long range with a Shield spell, you can damage them with energy blowback. That should probably only be for melee attacks.
SPELLS
10. Bleeding Darkness sure sounds cool, but they have written it begging for exploits -- how many players can push/pull a BBEG in and out of the darkness?
11. Ego Whip. As others have noted, a terrible, terrible spell.
12. Life Siphon. I like this -- considerable damage for a L. 1 spell, but require spending an additional resource.
13. Telekinetic Fling. Okay, this is a big change. It's fun and lets you play Jedi, and people didn't like having to use ammunition, but this doesn't let you use ammunition if you are holding it. Can you take out a 1 pound object, toss it in the air (free interaction) and then cast the spell? I think that's what you need to do if you don't want to depend on the DM always. Take an unlit torch (1 cp!), and fling it in the air and launch it at your opponent. The spell should probalby allow you to use something you yourself are holding. (It'll still use your interaction to draw it.). YOu could even throw a vial of acid with the spell, for a chance at an extra 2d6 damage.Sometimes you ask for a change and you don't want what you asked for.